Serrari Group

Qatar’s sovereign wealth fund, the Qatar Investment Authority (QIA), is poised to inject $1 billion into the retail division of Indian billionaire Mukesh Ambani’s conglomerate, valuing the retail unit at an impressive $100 billion. This move underscores the increasing engagement of Gulf investors in India’s rapidly expanding economy.

Reliance Retail Ventures Limited, a subsidiary of Reliance Industries, confirmed the development on Wednesday, revealing that the Qatar Investment Authority would acquire a 0.99% stake in the retail venture. QIA’s CEO, Mansoor Ebrahim al-Mahmoud, expressed the organization’s commitment to fostering growth in India’s thriving retail sector, highlighting Reliance Retail’s alignment with the fund’s diverse investment portfolio within the country.

This substantial investment marks a significant move for the affluent Qatar Investment Authority, further diversifying its holdings in India. Previous ventures include investments in prominent Indian startups such as Rebel Foods and Swiggy. The Qatar Investment Authority’s interest in this investment opportunity had been reported by The Financial Times last month.

This investment is part of a larger trend of QIA’s involvement in India. Just recently, one of the fund’s wholly owned subsidiaries purchased a nearly 3% stake in Adani Green Energy, a subsidiary of business magnate Gautam Adani’s Adani Group, amounting to $474 million.

Mukesh Ambani, at the helm of Reliance Industries, has consistently sought funding from global investors to fuel ambitious plans spanning various sectors from petrochemicals to telecommunications. Reliance Industries stands as India’s largest company by market valuation.

Reliance Retail Ventures, led by Mukesh Ambani’s daughter Isha Ambani, has strategically employed acquisitions to drive its expansion across diverse retail segments. This includes ventures catering to local stores and upscale shopping centers, anticipating the growth of India’s middle-class consumer base.

Isha Ambani hailed QIA’s investment as a positive indicator for both Reliance’s retail endeavors and India’s economic trajectory. The International Monetary Fund (IMF) has projected a 6.1% growth in India’s gross domestic product for the current year.

Having solidified its position as India’s leading retailer in terms of revenue, Reliance Retail has extended its influence to fashion brands looking to establish a presence in the thriving market, counting renowned names like Balenciaga and Burberry among its partners. In the fiscal year ending March, the group’s revenues totaled Rs 2.6 trillion ($31.5 billion).

Notably, Reliance Retail recently struck a deal to reintroduce Chinese fast-fashion brand Shein to the Indian market. This agreement comes after a three-year hiatus following the Indian government’s ban on the brand in the aftermath of border tensions between India and China.

Investors in Reliance Industries eagerly await updates on Mukesh Ambani’s plans to spin off major business units, including Reliance Retail. These developments are anticipated to be disclosed during the company’s upcoming annual general meeting. Additionally, Reliance debuted Jio Financial Services, its emerging lending arm, on Mumbai’s BSE exchange earlier this week.

Photo Source: Google

23rd August 2023
Delino Gayweh
Serrari Financial Analyst

Share this article:
Article and News Disclaimer

The information provided on is for general informational purposes only. While we strive to keep the information up to date and accurate, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk. is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information on the website is provided on an "as-is" basis, with no guarantee of completeness, accuracy, timeliness, or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.

In no event will be liable to you or anyone else for any decision made or action taken in reliance on the information provided on the website or for any consequential, special, or similar damages, even if advised of the possibility of such damages.

The articles, news, and information presented on reflect the opinions of the respective authors and contributors and do not necessarily represent the views of the website or its management. Any views or opinions expressed are solely those of the individual authors and do not represent the website's views or opinions as a whole.

The content on may include links to external websites, which are provided for convenience and informational purposes only. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorsement of the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.

Please note that laws, regulations, and information can change rapidly, and we advise you to conduct further research and seek professional advice when necessary.

By using, you agree to this disclaimer and its terms. If you do not agree with this disclaimer, please do not use the website., reserves the right to update, modify, or remove any part of this disclaimer without prior notice. It is your responsibility to review this disclaimer periodically for changes.

Serrari Group 2023