Creating an environment for innovators at India’s $43 billion Reliance Industries

By Kelsey Alpaio, Staff Writer

Sushil Borde, Vice President of Innovation at Reliance Industries, is clear about the Indian conglomerate’s business goals: “Our ambition is to become the ExxonMobil, the Walmart and the AT&T of India.”

The $43 billion company already has businesses in petrochemicals, refining, telecom, energy, retail, and textiles.

Reliance operates the world’s largest refinery, in Gujarat, India.

“Reliance is India’s largest private sector company. We did not exist a few decades back. This has all been made possible on the back of extreme innovation,” Borde says. “In the process, we have reinvented many industries, we have changed the game of many business models, and we are now in the process of saying that the next wave of growth at Reliance will be even more innovation-led. To do that, we need to institutionalize innovation within the organization.”

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