Mumbai, Apr 16: Announcing its strategic investment in the cargo airline Deccan 360, Reliance Industries Ltd (RIL) on Friday, Apr 16 stepped into the aviation sector.
The Mukesh-Ambani led company said that a wholly-owned subsidiary will be providing 'growth and capital' for the Captain Gopinath-founded cargo airline.
Speaking on the investment, RIL's chairman Mukesh Ambani said,"We believe that our collaboration with Deccan 360 will see a transformation in the logistics domain in India."
RIL's investment would help Deccan 360 increase its air and surface network coverage across the country, the company said in a statement.
However, there was no mention of the quantum of investment.