Reliance Industries adds 2.32 lakh new jobs in FY22, retail business top recruiter

India's top valued company and one of the largest employers, Reliance Industries (RIL) created 2.32 lakh (2,32,822) new jobs, taking its total workforce strength to 3,42,982 at the end of FY22, as per RIL's annual report for 2021-22. Out of the total workforce, RIL employees 22,642, Reliance Retail 2,15,614 and Jio 83,347. 

There was a 56% increase in new recruits for RIL, and 132% for the retail arm as against the previous year. RIL's retail business continued to expand offline, as well as online and created over 1,50,000 jobs through the year. The strong hiring for the retail business came at the time amid the company's several tie-ups with global brands, opening new outlets and plans to open many more in the next few months.

Mukesh Ambani chairs and runs Reliance Industries, which has interests in petrochemicals, oil and gas, telecom and retail. Almost 60% of Reliance’s revenue comes from oil-refining and petrochemicals, though, the conglomerate has been reducing its dependence on oil-refining by diversifying into retail, telecommunications and technology.

Ambani is pivoting Reliance into green energy. The company will be investing $80 billion over the next 10-15 years on renewable energy and building a new complex next to its refinery.

RIL said it will scale up investments in the green energy initiative that it recently announced to play a leading role in the world's transition to clean energy. 

“Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years. This new growth engine holds great promise to outshine all our existing growth engines in just 5-7 years," Mukesh Ambani said in a statement to shareholders in its annual report for the year ended 31 March. “Just as India has the world’s most affordable wireless broadband today, we will have the world’s most affordable green energy within this decade."

In June last year, Reliance proposed to invest ₹75,000 crore over three years to set up four giga-factories across 5,000 acres in Jamnagar, produce solar panels, energy storage systems, electrolyzers and fuel cells, and forge global partnerships to help the company achieve net carbon zero status by 2035.