Billionaire Mukesh Ambani readies for $24bn e-commerce giant to take on Alibaba
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Billionaire Mukesh Ambani took a step closer to creating an e-commerce giant. The company has unveiled plans to set up a $24 billion digital-services holding company. The subsidiary of Reliance industries will be investing 1.08 lakh crore in Jio. Reliance Jio Infocomm has a capital of Rs 65,000 crore. Reliance will invest money in the holding company on similar lines of Alibaba Group and Alphabet Inc.