Anil Ambani Floats Tech Reliance For IT Foray; May Invest $2 Billion

At least one faction of the Reliance Group has realised IT is an opportunity they missed out on. Anil Ambani’s Reliance ADA Group has decided to enter the IT services business by floating a new company – Tech Reliance (does it sound like the IT foray of another major industrial group – Tech Mahindra?).
It plans to provide IT consultancy, business process outsourcing and software development, among other services.
It will initially look at providing services to industry sectors such as telecommunications, financial services, utilities, entertainment and healthcare. The group is reportedly looking at investing $2 billion in the business.
Apparently the company is on the prowl for top management staff from major IT firms in the country, according to a report in Business Standard. Anil Ambani has already hand-picked a core team of 15 members, including employees working within the group, to head the initiative, says the report.
It remains to be seen if Reliance entry can make life tougher to existing biggies like Infosys Technologies, Tata Consultancy Services, and Wipro.