Mukesh Ambani’s Reliance Industries takes on Sunil Mittal’s Bharti Group again: This time for India operations of Chinese electronics giant

Mukesh Ambani’s Reliance Industries Ltd (RIL) has reportedly joined as a key contender for a significant stake in the Indian operations of Chinese electronics giant Haier, which is seeking a local strategic partner to bolster its presence in India. According to a report in Economic Times, citing sources, the move pits RIL against a consortium that includes Sunil Mittal of the Bharti Group, mirroring their competition in India’s telecommunications sector.

Haier Appliances India, the third-largest player behind LG and Samsung, is said to be considering diluting 25-51% equity, potentially adopting a structure similar to MG Motors, where an Indian entity becomes the largest shareholder.