After conquering the world of telecom, energy, petrochemicals, textiles, natural resources, and retail, Reliance Jio is now set to make an entry into the e-commerce industry.
One of the top richest personalities in the world, Mukesh Ambani committed to investing as much as Rs. 3 crore in Gujarat in the next 10 years.
Reliance Jio will now launch a new e-commerce platform and their debut will be from Gujarat.
Their previous venture, Reliance Retail has already given Flipkart and Amazon a run for their money and their efforts to make the grocery delivery business through offline e-commerce has born some delicious fruit.
It’s time to see how their latest e-commerce platform plays out.
Mukesh Ambani at the Vibrant Gujarat Summit
Reliance Industries Ltd Chairman and managing director, Mukesh Ambani declared that the group companies, Reliance Retail and Reliance Jio Infocomm will jointly launch this new e-commerce platform and Gujarat will be the first state to enjoy its benefits. This was in the presence of Prime Minister, Narendra Modi, on the occasion of the inauguration of the three-day Vibrant Gujarat summit.
This new e-commerce project will help make Gujarat fully digital and will empower 1.2 million shopkeepers in Gujarat. Mukesh Ambani plans to invest in Gujarat as the state is where Reliance holds its roots and flourishes constantly.
How will this e-commerce platform work?
Reliance Jio will soon introduce its 5G plans in India and will now join hands with Reliance Retail to invest and gain money through this e-commerce platform. From fashion garments, food products to electronics, everything will be available on this e-commerce platform. Apart from this, financial services and advertisements will also be available on the platform.
Ambani plans to introduce this plan to around 5100 Jio Point stores spread across 5000 cities and towns. The plan is to enable people to shop without internet access too. It will reach the remote villages and towns of India where people have never shopped online before.
India’s only company to earn a profit of Rs. 10,000 crore
On Thursday, Reliance Industries Limited declared their quarterly earnings, wherein it was revealed that for the first time, the telecom and retail businesses contributed to one-fourth of the revenues. Petrochemical industry constituted of 42% and refining industry contributed to the 26% of revenues.
Rumour is, Reliance Jio is also working on producing films, broadband, IoT and much more. Stay tuned for more updates!
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