New Delhi. Telecom company Reliance, one of the largest companies in the country, is now preparing to make its mark in another sector. It is being said that Reliance is soon going to try its luck in the automobile sector. It is not good news for the big automobile sector companies in the country that such a big company like Reliance is competing with them. According to the information, Reliance is preparing to enter this sector not alone but in collaboration with MG.
For information, let us tell you that MG Motor, the company owned by SIAC Motor of our neighboring country China, is trying to sell most of its stake in the Indian market. The reason is the bitterness in the relations between India and China over the years. The effect of this bitterness is being seen in this sector as well. Due to which MG Hector is preparing to pack its bags. But it is not that only Reliance is engaged in this effort as big companies like Hero Group, Premji Invest and JSW are also racing in this. There is every possibility that if this deal is done then there can be a big change in the Indian automobile industry.
Let us tell you that during the last few years there has been a major breakdown in relations between India and China. This bitterness has also affected the trade relations between the two countries. Due to this, Chinese companies have to struggle in India. This year, like last year, the Government of India had banned many Chinese applications. MG Motor has sought government approval to raise funds from its parent company for additional investment for its upcoming operations in India.
