Reliance Industries Announces Plans To Take On Amazon In India

Reliance Industries is launching its own online shopping platform to create a development society for more than 1.2 million shop owners and retailers in western India. It also offers a challenging plan to bring the world's largest sales channels such as Flipkart and Amazon.com into India's online shopping market.

Mukesh Ambani

The richest person in Asia, Mukesh Ambani, wants to create a combination of the extensive regional retail stores, Jio telecom service, and mobile devices to take on the largest retailers on the planet. Although the e-commerce market in this area is growing at the fastest pace in the world, organized retail is not really popular. The group joins with Flipkart and Amazon to expand the development of e-commerce and enhance online retail organization for customers in this region.

On Friday, Reliance's chairman said that a unique and different trading platform will be launched in Gujarat by the combination of Reliance Retail and Jio. The launch of the platform aims to create growth opportunities and power for 12 lakh (equivalent to 1.2 million) shop owners and small retailers in the region.

Reliance Fresh, one of the major divisions of Reliance Retail

A senior executive from Reliance Retail, V. Subramaniam released data collected during the quarter on Thursday. The data show that Jio currently has a very fast growth rate, nearly 280 million registered users. In addition, Reliance Retail operates with over 10,000 stores in over 6,500 towns and cities in India. Both will work together to bring products to customers through Jio's devices and applications.

India issued a regulation last month, which aims to ban foreign online retailers from selling merchandise of companies they invested, at the same time, prevent the exclusive sale of merchants through their sites. These rules may directly affect the business of Amazon and Flipkart - the online shopping service acquired by Walmart for $16 billion. In contrast, these rules provide certain benefits to Reliance and other local businesses.

Reliance's director unveiled a few details about his upcoming e-commerce development plan. According to one of his statements, the company will use virtual reality, hologram and augmented reality to conduct immersive shopping program.