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'No Poaching Agreement' between Adani Group and Mukesh Ambani's Reliance, know what is it?

 (Fast Mail News) - Mukesh Ambani-led Reliance Industries and Gautam Adani-led Adani Group have signed a 'No Poaching Agreement'. Under the agreement, both the companies will no longer be able to give jobs to each other's employees in their companies. This agreement will be applicable to all businesses of both Adani Group and Reliance Group. That is, now employees working in any Reliance Group company will not get jobs in Adani Group and employees working in any Adani Group company will not get jobs in any Reliance Group company. Business Insider has given this report.

The important thing is that these two big business groups are now entering each other's territory. Reliance Group is considered the king in the petrochemical sector, but last year the Adani Group announced its foray into the petrochemicals sector with Adani Petrochemicals Ltd. While data services where Reliance has a large presence, Adani Group also announced its entry by bidding for 5G spectrum.

The 'No Poaching Agreement' is not new in India and is becoming increasingly popular. The major reason for this is believed to be that the shortage of more qualified people is increasing and companies have to pay more salary and allowances. Therefore, companies want that the investment made on talent should be taken advantage of for maximum time.

 

 

 Talking about the legal aspect, experts say that no poaching agreement is not illegal in India provided that it does not limit a person's right to employment.

The Adani Group continues to increase investments in renewable energy, power generation and distribution, ports, airports, solar and natural resource mining. The Adani Group is also trying its hand in the petrochemicals and enterprise broadband space. It has recently acquired spectrum worth Rs 212 crore.

Reliance Jio Infocomm is the world's third largest mobile network operator with a subscription base of 426 million  has emerged as the largest bidder for 5G spectrum.

Reliance, on the other hand, also has big ambitions in the new energy and solar sectors, where Gautam Adani is already leading. Given that both the groups are present in many areas where talent is scarce in India, this agreement could help prevent the war for talent.

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