Adani Group signs 'No Poaching Agreement' with Reliance Industries, know what it means and what will the effect
The Adani Group of Gautam Adani, the world's third richest rich, has entered into a 'no poaching agreement' with Mukesh Ambani's Reliance Industries. This no-poaching agreement means that the employees of Reliance Group and Adani Group will not get a place in each other group companies. Through this, the talent of both the group companies can be prevented from being hired by each other.
The timing of the agreement is important - the competition between the two groups is increasing
According to a report by Business Insider, this agreement has been brought in May this year and will be applicable to all the businesses of these two companies. The competition is gradually increasing between the two groups as the Adani Group is slowly gaining a foothold in those businesses in which Reliance Group is already a big name. The biggest example of this is that last year with 'Adani Petrochemicals Limited', the Adani Group entered the petrochemicals sector in which Reliance Industries is already working as one of the largest companies in the country for years.
Agreement reached to stop talent war
Apart from this, recently the Adani Group bid for a 5G spectrum, in which Reliance's Reliance Jio Infocomm has become the country's largest company. In fact, both groups have made this agreement so that the talent war between the companies can be stopped.
It will be difficult for the employees
According to the report, after this agreement, it will not be possible for more than 3.80 lakh employees working in Reliance companies led by Mukesh Ambani to work in Adani Group companies at present. Apart from this, the companies of Adani Group which have more than 23 thousand employees will not be able to do jobs in any company of Mukesh Ambani.