By Kosaku Narioka

Reliance Industries Ltd. will acquire Future Group's retail, wholesale and logistics businesses for 247.13 billion rupees ($3.38 billion), the Indian conglomerate said Saturday.

Reliance is seeking growth in the consumer and technology spaces, as its refining and petrochemical businesses have been volatile amid the Covid-19 pandemic.

Write to Kosaku Narioka at kosaku.narioka@wsj.com