Reliance Wants To Conquer Europe Now; Will Soon Launch Operations In Estonia!
Their ambitious plans shall be undertaken by Reliance Jio, the telecom arm of Reliance Industries.
$130 billion worth Reliance Industries, which is India’s largest private company and a behemoth which has disrupted telecom and digital industries in India, has now set their eyes on Europe.
Mukesh Ambani led Reliance Industries will soon set up their launchpad in a tiny European nation called Estonia. And once that happens, then the march towards conquering Europe will begin.
Will this ambitious plan of Reliance Industries actually materialize?
Reliance Industries’ Big Gamble: Europe!
Insider reports from leading news publications have revealed that Reliance Industries want to jump into European Telecom industry and their e-Governance projects.
It seems that both of these ambitious plans shall be undertaken by Reliance Jio, the telecom arm of Reliance Industries.
In case Jio is able to gain a foothold in Europe, then they ensure that their losses in India are covered, and a new stream of revenues start coming in.
Investors in Reliance would be also assured that the company is indeed expanding into other verticals, and it can be a win-win situation for all.
The Launchpad: Estonia
Estonia is a tiny country in Northern Europe, which is surrounded by Finland, Latvia and Russia on three sides, and Baltic Sea on one side
Reliance will soon launch their operations from Estonia, and create their first foundation in Europe, from where all their operations will kickstart.
As per reports, Reliance Industrial Investments and Holdings Ltd will give a loan of Rs 12.2 crore to their new Estonian unit to kick-start their operations. Reliance Industrial Investments and Holdings Ltd is a wholly owned subsidiary of Reliance Industries, specializing in investment holdings.
But Why Estonia?
Estonia is a small nation, and as per a 2016 report, their total GDP is equal to Mukesh Ambani’s total worth.
However, Estonia is a digital nation and provides an easy route for foreign entrepreneurs and behemoths to kickstart operations in Europe.
This is under their e-residency programme, which allows anyone to set up a business in 24 hours, and start their operations without even a physical address.
A global EU company can be formed, from anywhere in the world. Under this digital nation initiative, 99% of Govt. works and tasks are now digitally accessed.
This successful implementation of digital policies, along with e-residentship is what Reliance wants to duplicate across Europe.
IANS Report mentions:
“A statement from the company said Ambani envisaged to make lives better for millions in India by replicating innovative solutions offered by Estonia into the Indian context, adding that, the ‘e-residency programme’ of Estonia will empower him with easy access to the entire European Union (EU) for his existing business while sitting in India,”
And the first step has been already taken.
We will keep you updated as we receive more news on this.