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Mukesh Ambani, chairman of Reliance Industries, at an event in Mumbai last year to mark 100 million Reliance Jio customers. His aim in the next "golden decade," as he describes it, is to extract at least half of the company's revenues from consumer businesses, including telecom.
Company in focus

For Reliance Industries, consumer data is the 'new oil'

Indian conglomerate's transformation centers on telecom business

ROSEMARY MARANDI, Nikkei staff writer | India

MUMBAI -- Mukesh Ambani, India's richest man and chairman of Reliance Industries, the country's second most-valued company by market cap, is getting back the loved sheep that has been lost for the past 13 years.

India's Supreme Court on Aug. 3 cleared the settlement between Mukesh's younger brother Anil Ambani's debt-strapped company Reliance Communications and the local unit of Ericsson, a deal under which the Swedish equipment maker agreed to accept 5.5 billion rupees ($80 million) from the company instead of the 15 billion rupees it was owed. The order paves the way for Reliance Communications to sell its consumer telecommunications assets to Reliance Jio Infocomm, the company run by Mukesh.

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