Should Flipkart, Amazon worry? Mukesh Ambani’s novel e-commerce plan; Jio to bring 12 lakh shopkeepers online

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Updated: January 18, 2019 7:08:39 PM

With an aim to boost the small traders, Reliance Industries Chairman Mukesh Ambani said on Friday that the company plans to launch a commerce platform for 12 lakh small retailers and shopkeepers in Gujarat.

Mukesh Ambani, Asia's richest man, has made a prediction for India: Every new generation of Indians will live a better and more fulfilling life than those before.Reliance Retail has over 9,000 stores across the country.

With an aim to boost the small traders, Reliance Industries Chairman Mukesh Ambani said on Friday that the company plans to launch a commerce platform for 12 lakh small retailers and shopkeepers in Gujarat. Since Jio’s network is now completely 5G ready, the telecom arm and the retail division will launch a new commerce platform to connect small retailers and shopkeepers with customers, the richest man in India also said at the 9th Vibrant Gujarat Global Summit. India’s e-commerce sector is currently dominated by Amazon and Walmart-backed Flipkart.

Mukesh Ambani had last talked about leveraging the Jio network for launching some sort of e-commerce venture. Reliance Retail has over 9,000 stores across the country.

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Earlier at the event, he had urged Prime Minister Narendra Modi to lead a movement against ‘data colonisation’ on the same lines as Mahatma Gandhi piloted a struggle against political colonisation.

The local data must be owned by Indians and not “by corporates, specially global corporations,” the billionaire businessman had said.

“Honorable Prime Minister, am sure you will make this one of the principal goals of your digital India mission”, he had also said while adding that the world has now recognised that PM Modi is a “man of action.”

Meanwhile on Thursday, Reliance industries became the first Indian firm to post Rs 10,000 crore quarterly revenue. The company reported 8.8% rise in net profit to Rs 10,251 crore as against Rs 9,423 crore in the corresponding period of the previous year.

The company’s revenue also increased by 55.9% to Rs 171,336 crore as against Rs 102,500 crore in the corresponding period of the previous year.

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