Reliance Industries Limited has announced plans to enter the $100 billion FMCG market in fiscal year 2023, providing high quality products at affordable prices. Morgan Stanley said in a report that RIL has private labels in the F&B, HPC and BPC segments that are currently sold. through its own retail channels. “We believe the business will need to invest in branding and marketing to transform this private label business into full-fledged consumer operations. Growth in the FMCG category is a function of both volume gains and in market share,” Morgan Stanley said. One hundred percent versus 15% and 9%, respectively, for DMart. The retail business has revenue of $27 billion in a total retail market of $787 billion. According to the company, it had a base of over 200 million registered customers, 520 million visits and 4.5 billion visits to digital platforms in fiscal year 2022. RIL has a total network of more than 15,000 stores across all categories with an operating area of 42 million square feet, spread across 7,000 cities, with two-thirds of the store network in Tier II cities and below.