New Delhi, Aug 29 (IANS): Isha Ambani, Director, Reliance Retail, announced on Monday that this year, Reliance Retail will launch its fast-moving consumer goods (FMCG) business.

This is being done with an objective to develop and deliver high quality, affordable products which will solve every Indian's daily needs, Isha Ambani said at RIL's 45th AGM.

Reliance Retail achieved a proud record of Rs 2 lakh crore turnover and EBITDA of Rs 12,000 crore, and is among the top 10 retailers in Asia.

Reliance Retail served over 200 million registered customers, equivalent to the entire population of the UK, France and Italy, at Reliance Retail's physical stores and digital platforms. It recorded 4.5 billion visits to the digital platforms, up by 2.3x year-on-year.

Its digital commerce platforms continued its growth with nearly six lakh orders being delivered every day, an increase of 2.5 times over last year. It doubled warehousing and fulfilment space to 670 million cu ft, linking supply locations with demand centres across the country. Its own brands contributed to over 65 per cent of overall revenues.

Reliance Retail's strategy is to integrate with millions of small merchants and provide them a platform to prosper. Since the launch two years ago, it has grown merchant partners base to over 20 lakh partners.

The company launched the JioMart Digital (JMD) initiative during the year, enabling small electronics merchants to sell the entire product portfolio of Reliance Retail on an assisted selling model.