Business

Reliance Industries To Step Into E-Commerce Soon

HARSH RANJAN | 0
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| January 19 , 2019 , 16:17 IST

Reliance Industries Ltd (RIL) to step into e-commerce with1.2 million retailers and store-owners in western India, sketching out an ambitious plan to take on Amazon.com Inc and Walmart Inc’s Flipkart.

While addressing Vibrant Gujarat Summit On Friday, Mukesh Ambani said, “Jio and Reliance Retail will launch a unique new commerce platform to empower and enrich our 12 lakh small retailers and shopkeepers in Gujarat.”

He is planning to create an online-to-offline platform that would take on the likes of Amazon and Walmart, which are both betting big on India's e-commerce market

This is the second time within a month that Ambani has backed Indian authorities' efforts to get companies to store data locally.

Ambani has been gradually revealing details of his plans in e-commerce. In July, he said his platform would use augmented reality, holographs and virtual reality to create an “immersive shopping experience.”

He said Jio and Reliance Retail, which has over 9,000 stores across 6,500-plus towns in the country, will launch "a unique new commerce platform to empower and enrich our 12 lakh small retailers and shopkeepers in Gujarat - which are part of over 3 crore community in India."

Mukesh Ambani, Asia’s richest man, intends to take on the world’s largest retailers by combining his Jio telecom service, mobile devices and a vast physical retail network.

ALSO READ: Mukesh Ambani To Launch New E-Commerce Project To Empower 12 Lakh Shopkeepers In Gujarat

Previously, Ambani said, "Jio is committed to creating a fully connected Gujarat. RILNSE 4.03 % will double its investments and employment numbers over the next 10 years. "Reliance will move away from concentrated investments in few locations to much larger investments in a distributed manner all across Gujarat."

"We will make Gujarat a fully prosperous state. Jio's network is fully 5G ready and his company will not only help the state create Smart Cities but also smart villages," Ambani added.

Mukesh Ambani also said that RIL has a new oil to a chemical strategy which will greatly boost India's exports and create jobs.

He further said that RIL is committed to investing Rs 150 crores more in the Pandit Deendayal Petroleum University which, he said, would make it an institution of international repute.