Reliance to take on Walmart and Amazon online
South Asia’s richest man Mukesh Ambani is establishing an e-commerce platform to compete with Walmart and Amazon in India.
The Reliance Industries chairman will roll out services in Gujarat before extending them nationwide.
“Jio and Reliance Retail will launch a unique new commerce platform to empower and enrich our 1.2 million small retailers and shopkeepers in Gujarat,” said Ambani.
Reliance introduced the 4G Jio network in September 2016, a market disruptor with its free voice calls and cheap data plans. Its move into e-commerce will aggravate an already cut-throat battle between market leader Flipkart, owned by Walmart, and Amazon’s services in the territory.