The largest Indian company Reliance Industries has bought a stake in Indian freight services firm Deccan 360. The deal is expected to help boost the retail operations in India.

According to sources, the Reliance Industries has paid around $20 million to $30 million for the stake. This deal has come for Reliance after a long time gap. Reliance Industries is looking forward to grow new businesses in Indian market.

The purchase will enhance the supply chain and logistics operations of the retail business of Reliance. Reliance Retail which is a unit of Reliance Industries has extended its business to 80 cities across India with 900 multi-format stores.

So far as Deccan 360 is concerned, it is owned by G. R. Gopinath. He has also founded India's first budget airline Air Deccan. It was sold to Kingfisher Airlines of UB Group in the year 2007. Deccan 360 has around 300 trucks and 850 bikes and other small carriers nationwide. As per Reliance, it is connected with 50 domestic cities of the country. This will undoubtedly help the former to reach larger parts of India.