Reliance says it has nothing to gain from new farm laws

Facing the brunt of farmer's ire over perception of it being a beneficiary of new farm laws, Reliance Industries on Monday said it neither buys foodgrains directly from farmers nor is it in the business of contract farming.

In a statement, billionaire Mukesh Ambani's firm said its subsidiary Reliance Jio Infocomm Limited (RJIL) has filed a petition in the Punjab and Haryana high court seeking "the urgent intervention of government authorities to bring a complete stop to the illegal acts of vandalism (of telecom towers) by miscreants."

Reliance said it "has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them."

"As such, the sole nefarious purpose of linking the name of Reliance to these laws is to harm our businesses and damage our reputation," it said.

The company said it does not do "corporate or contract farming" and has not bought "any agricultural land, directly or indirectly, in Punjab/Haryana or anywhere else in India, for the purpose of “corporate” or “contract” farming."

Its retail unit which sells food grains and staples, fruits and vegetables and items of daily use through its stores, "does not purchase any food grains directly from farmers," the statement said.

"It has never entered into long-term procurement contracts to gain unfair advantage over farmers or sought that its suppliers buy from farmers at less than remunerative prices, nor will it ever do so," it added.