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Saturday, 24 September 2022

Big deal between Adani and Ambani, will affect all employees: Report claims

Big deal between Adani and Ambani, will affect all employees: Report claims



According to information, Gautam Adani-led Adani Group and Mukesh Ambani's Reliance Industries have decided not to hire each other's employees.

No-Poaching Deal: A big deal has been made between the country's legendary business man and rival Gautam Adani and Mukesh Ambani. Gautam Adani-led Adani Group and Mukesh Ambani's Reliance Industries have decided not to hire each other's employees.


Why did this deal happen?

According to sources, the no-poaching pact between the two companies came into effect from May this year and will be applicable to all their group companies. However, neither Adani Group nor Reliance Industries have commented. 


What is this system?

A senior professional at a global executive search who has been working with both groups said the agreement has always been there. After the implementation of this rule, now both groups cannot hire each other's talent. However both these groups have presence in all sectors and are also competitors in some industries.


Competitors in these sectors include

Adani Group, which is involved in sectors such as electricity, ports, airports, renewable energy and solar energy, and has recently ventured into the petrochemicals sector. On the other hand Reliance Industries is already a top player. Both the companies have come very close to each other in telecom as well. In the recently concluded 5th auction, Reliance Jio emerged as the third largest mobile network operator in the world.


Adani Group is growing in many areas

The Adani Group has taken tremendous leaps forward in the last few years. Adani Group and Reliance Industries have recently announced massive investments to grow their retail businesses. According to a report, Adani Group's food company, Adani Wilmar Ltd, has raised Rs 100 crore from its IPO for acquisition targets to boost its food operations. 5 billion has been allocated. On the other hand, Reliance Industries has also announced to start consumer goods business. 


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