Mumbai, Sept 22nd, 2022: Adani Group, led by the world’s third richest man Gautam Adani entered into a no-poaching pact with Mukesh Ambani’s Reliance Industries on Thursday.
A no-poaching agreement prevents employees of both companies from joining the other.
The pact comes in view of certain companies facing moonlighting as a widespread issue and to also ensure friendly relations and business opportunities in the future.
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 Jio has bid for a 5G spectrum.
Given that Adani Group and Reliance Industries have global ambitions in several businesses, this pact allows them to ring-fence their respective talent pools both in India and outside.
