Ecommerce is a growing platform in India. With digitization at it’s peak, Reliance has not hesitated to pounce on the opportunity to make profits. The company, owned by the richest man in Asia, Mukesh Ambani, is planning to take over major online shopping platforms like Amazon and Flipkart in India. The online platforms will be made available to 1.2 million retailers in Western India for local growth in business.
Combining Jio telecom service and mobile devices and a vast physical retail network, the company plans to take over these online shopping conglomerates.
Mukesh Ambani, chairman of Reliance, said at an event on Friday “Jio and Reliance Retail will launch a unique new commerce platform to empower and enrich our 12 lakh small retailers and shopkeepers in Gujarat.” Twelve lakh is equivalent to 1.2 million.
Last month, India made market rules more strict. As per the new rules, foreign-owned online retailers will not be allowed to sell products through companies in which they own equity. These new rules are meant to benefit more domestic companies than foreign retailers.
Jio presently has 280 million telecom subscribers, while Ambani’s retail arm operates nearly 10,000 outlets across more than 6,500 Indian cities and towns.
Trials of the company’s new endeavour are already on in six cities including Mumbai, Kolkata, Chennai and Bengaluru.
Ecommerce in India, with this new deal, is certainly going to expand and head the country towards digital advancement.