Is Reliance Really Ruling Over India? ‘Jio Aur Jeene Do’ Is The New Motto?
Public announcements are made about making India independent so that people can sustain themselves, is this actually true? No level of independence can be formed if the people in the country are not given a fair chance to sustain themselves in the market.
‘JIO aur Jeene do’ has been the slogan for our country for quite some time. There is one company that is flourishing in every sector and is leading to disruption to all the other companies. Why is this happening? When Jio came, Airtel, Vodafone, idea all of them went into disdain. Other oil companies also started incurring losses when reliance entered the refinery sector. Now Reliance aims to enter the fintech sector, will the other companies stop functioning because of the high amount of losses? Why is the market competition not checked by the higher authorities?
What is the point of having an independent India when the majority of the companies are falling down and only one company is ruling in all the sectors of the country? Even after ruling in all the sectors of the country, this company resorts to cutting the salaries of the employees. So the richest man in India who has the biggest conglomerate cannot give enough money to his employees? This is a shocker for many, but the harsh truth for the Indians. Even after securing deals from overseas, the employees are getting salaries with a cut. To sugarcoat this, it is said that even the owner of the company, Ambani is letting go of his salary. But Mr. Ambani, you can survive without your salary because you own the company, but the employees cannot survive without their salary because they have to feed their families and they are not the owners of the company.
There is one company which is coming out stronger from every storm which is coming to our country. The company is Reliance. When the whole world is on the verge of collapsing and a recession is going to enter, the alliance is making a name in every sphere of life. The major part here is that the government fully supports that. After all, best friends support best friends. The Modi-Ambani duo is a superhit.
Why is this called healthy competition? Is this even allowed according to the Indian rules and regulations? Won’t this create a monopoly in the Indian market?
Reliance Jio started to give a boost to the Digital India scheme which was given out by Modi. At the moment Jio is one of the biggest telecom service provider is in the country. Reliance has actually disrupted the energy and the telecom industry in India and is on the verge of doing the same to fintech, retail, and media.
Telecom: Reliance owns more than 30% of the market revenue when it comes to the telecom business. Be distributed free SIM cards to every Indian and when the Indians were addicted to the internet, they started charging for it. This was an awesome strategy that was rolled out by the company. Due to this, and understanding the Indian mentality of having a liking for discounts and free items, reliance has reached heights. Jio has been a blessing for many but a nightmare for a few too. Airtel started reporting losses for the first time in 15 years. Idea, a very old company in the Indian telecom sector broke down. Idea and Vodafone joined their hands together so that they could go ahead as one and overrule Jio. The whole telecom sector was in a chaos. When Reliance started giving free SIM cards, the competitor companies were furious. They complained to the regulatory bodies that this is not a healthy practice. This complaint was not sorted out because the two authorities that were supposed to make a decision took too long to solve the case.
Oil: When we talk about the oil sector, energy is the core business of reliance. It is expected to further expand and be the fastest-growing market for fuel and chemical products over the next 10 years. The company has done partnerships with various other overseas entities to facilitate this level of growth. Reliance owns the world largest single-site oil refining complex and also has various petrochemical plants. reliance is one of the most diversified companies in India. There is simply no other company like it because it is flourishing without any boundaries. Companies such as Saudi Aramco, the world’s largest oil producer invested in reliance oil business. Reliance also has the best fleet management program. There is just no stopping for this company.
Fintech: When we talk about the fintech sector, Reliance is well-positioned in that sector. It aims to do digitize the Kirana store so that they accept digital payments via the Jio app. Mutual funds are also to be distributed via the Jio money. Now that Facebook has joined hands with the reliance, they will enter the kirana store sector to channelize the digital payments. It is said that the merchant fee would be 0 when people make transactions with the Jio app. Jio is partnering with Hindustan Unilever for acquiring the merchants in this space. Reliance is seeking for deeper penetration in the market and is all set to disrupt the fintech sector of India. Ambani said that the combined power of Jio is a world-class digital connectivity platform and Facebook’s close relationship with the Indian people will offer innovative new solutions to the masses.
Education: Gradually, the Jio Facebook deal also looks at covering the education and health sector. Since the onset of the coronavirus pandemic, online education has been making rounds in India. And Ambani is a great businessman, he is all set to invest in this booming sector. Reliance industries invested Rs.500 crore in its education start-up. Earlier he made Rs. 90 crore investment in a start-up. The education start-up acquired its rival platforms also to eliminate competition. This can be a calculated move for Ambani who claims that the revenues of the company have fallen down because of the coronavirus due to the crude oil prices.
Apart from this, Reliance life sciences has enhanced India’s coronavirus testing capabilities by developing its own confirmatory tests.
There is one thing which we can infer from all the sectors Reliance has entered, entering at the right time and making a name for themselves. Apart from this, there is a very important lesson that a common man can learn. There is something that is going on between the company and the Indian structure of corporate governance which does not tell Reliance to back off. Other companies are going into disdain and failing miserably while reliance is coming out as stronger.
In the later stages, after the pandemic is over, the small level companies will collapse because of the high amount of losses they have incurred right now. During this time, reliance will come out as a superhero because of the expansion strategy that it acquired during the lockdown. FDI rules were changed, foreign investments were to be tailored down to promote make in India. Is this how investments are channelized? Empty promises want to get us anywhere.
Aatma Nirbhar India is possible only when a fair chance is given to all the Indian companies to showcase themselves in the market. But when it comes to India, only the richest company owned by the richest man in India is given a fair chance. All other companies which have been loyal to the country are going into the trash. If this isn’t a strategic partnership then what is?
The Modi Ambani duo is the best thing that could ever happen to Reliance, but this is the worst thing that is happening to the old companies of India!
