28-September-2022
Corporate News
 
Adani Group enters into a no-poaching pact with Mukesh Ambani led Reliance Industries
22-Sep-2022

The Adani Group, led by the world’s third richest man Gautam Adani, has entered into a no-poaching agreement with Mukesh Ambani-led Reliance Industries, such that both groups will be restricted from hiring talent from each other. The agreement has come into effect from May this year and will be applicable to all their businesses. Queries sent by Business Insider to both groups remained unanswered. What makes this pact interesting is that it is between two of India’s largest conglomerates and of late both have entered sectors where the other has a big play. Last year, Adani Group announced its entry into the petrochemical space with Adani Petrochemicals Limited, which is where Reliance has a large presence. The other area where their paths cross is the high-speed data services, for which Adani has bid for 5G spectrum.

News Source:- https://www.businessinsider.in/business/news/adani-group-enters-into-a-no-poaching-pact-with-mukesh-ambani-led-reliance-industries/articleshow/94353862.cms