Reliance Retail, Jio All Set To Launch New E-commerce Platform

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After conquering the world of telecom, energy, petrochemicals, natural resources, textiles, and retail, Reliance Jio is now all set to make an entry into the e-commerce industry.

Reliance Industries Ltd Chairman and managing director Mr. Mukesh Ambani said that Reliance Retail and Reliance Jio Infocomm would jointly launch a brand new e-commerce platform in the country.

Reliance Jio will debut the new e-commerce platform from Gujarat. Mukesh said this in the presence of Prime Minister Narendra Modi. The two were present at the inauguration of the three-day Vibrant Gujarat summit.

This new e-commerce project will help to make digital Gujarat and will empower 1.2 million shopkeepers in the state. Reliance holds its roots and flourishes constantly in Gujarat so it is the best place to establish the pillar.

From fashion garments, food products to electronics, everything will be available on this e-commerce 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.

The company declared its December quarter earnings Thursday. For the first time, its consumer businesses like the telecom and retail operations contributed one-fourth to the total revenues. Petrochemical industry constituted 42% and the refining industry contributed to the 26% of revenues. The company’s consolidated net profit of Rs 10,251 crore for October-December was 7.7% higher than the September quarter.

Ambani also said he will donate Rs 150 crore to the state’s Pandit Deen Dayal Petroleum University to improve its infrastructure.

On the subject of data localization, he said there was a need to “collectively act against data colonization”.

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