Reliance is reinvesting its cash flow at accelerated pace in new projects and new businesses and partnering with global leaders in all its business, Ambani said at the company AGM

Mumbai: Billionaire industrialist Mukesh Ambani on Thursday said that partnerships will be key to Reliance Industries' (RIL) future growth and the group would partner global leaders across all its businesses, reports PTI.

Addressing the shareholders at its Annual General Meeting (AGM) in Mumbai, the RIL chairman and managing director said that the company is reinvesting its cash flow at accelerated pace in new projects and new businesses.

"We are partnering global leaders in all our businesses... We have partnered BP... and leading global retail brands... Partnerships will be a key feature of our future growth," he said.

He further said that RIL has adopted transformation as its top agenda, wherein it is expanding breadth and efficiency of its business to create value for all stakeholders.

Noting that the business environment in recent years has been marked with unprecedented economic shocks in major markets across the world, including India, Ambani said that Reliance has still grown stronger in its asset base and has improved its competitive position in core businesses.

He also said that Reliance' retail business would create many job opportunities in rural and urban India.

Talking about the company's track record, Ambani said the company was entering its 35th year since its IPO in 1977.

"Reliance has a unique track record of organic growth in all these years that is unparallelled among global peers... Rs1,000 invested at the time of IPO in 1977 has grown to Rs7.8 lakh," said Ambani, who has been on RIL's board all these 35 years.