Mukesh Ambani enters e-commerce business with its My Jio Mart

Mukesh Ambani has now stepped into e-commerce business with its My Jio Mart. He will now take on e-tailers such as Amazon and Flipkart. In a news report the launch of the e-commerce platform has been confirmed.

For the time being the platform will serve at selected locations like Navi Mumbai, Thane and Kalyan.  

This plan was revealed a few months back and the company sees this as a $700 billion opportunity. At the company’s 42nd Annual General Meeting, Mukesh Ambani said that through this platform RIL’s retail arm plans to “empower” 30 million small traders and merchants.     

India’s unorganised retail industry amounts to about 80% of the total Indian retail.

Reliance Retail along with Kishore Biyani’s Future Group is implementing latest technologies across India to connect producers, traders, small merchants, consumer brands and shoppers. The retail arm of Reliance Industries Limited is also working on merchant Point of Sale (POS) Solution in order to create an ecosystem for India’s commerce.

Reliance Retail operates multi-format stores ranging from neighbourhood to supermarket. Reliance Retail has over 10,091 stores spanning close to 7,000 towns in the country.