RIL, Rajesh Exports likely to enter JV

A new big deal may be around the corner as Reliance Industries is in talks with Rajesh Exports for a joint venture in jewellery retail.After buying out Oyzterbay, Rajesh Exports has been reworking its retail strategy and now just like competitor Gitanjali Gems, its on the expansion move. Even as the talks are in early stages, the joint venture plans to invest over Rs 4,000 crore with an initial investment of Rs 1,000 crore. According to sources, Reliance will do the majority of investment and some of that will be raised by the joint venture as debt.In terms of the roll out of the real infrastructure, its not yet clear whether Rajesh Exports may use its current stores or will add a fresh chain named after Reliance.