Indian stock news
On July 28, 2026, Reliance Industries Limited (RIL) announced a strategic joint venture with Japan's Toray Industries to establish a large--scale carbon fiber manufacturing facility in Gujarat.
Strategic Rationale:
- Green Hydrogen Ecosystem: The carbon fiber produced will be utilized to manufacture high--pressure hydrogen storage tanks, a critical component for RIL's green hydrogen mobility ambitions.
- Import Substitution: This facility aims to make India self--reliant in high--performance carbon fiber, which is currently largely imported for aerospace and defense applications.
- Investment Scale: The joint venture involves an initial investment of ₹5,500 crore, with production expected to commence by late 2027.