Reliance Industries Limited (RIL) was founded in 1966 by Mr. Dhirubhai Ambani by the name Reliance Textiles Industries Pvt. Ltd. and later in 1973 it was merged with the company Mynylon Limited. The joint venture was renamed as Reliance Textile Industries Limited (RTIL) and again renamed Reliance Industries Limited (RIL) in 1985. RIL works in the following industry sectors: exploration and production, refining and marketing, telecommunications, retail, petrochemicals, and telecommunications. RIL is the 2nd largest publicly traded company in India. The company's vision is to create value for the nation, enhance quality of life across the entire socio-economic spectrum and help spearhead India as a global leader in the domains where they operate, through sustainable measures. Corporate governance is one of the strong fundamentals of the company. RIL has a large number of subsidiaries such as Reliance Retail, Reliance Life Sciences, Reliance Logistics, Reliance Jio Infocomm, among others.