Reliance Industries Ltd., the Mumbai-based Indian multinational retail-to-telecom conglomerate, had started off an online grocery service at its digital platform, JioMart, the Chief of JioMart’s grocery retail business, Damodar Mall said in a tweet late on Saturday, pointing towards an affluent move from the India’s home-grown retailer which in effect would likely to challenge the Californian retailer Amazon.com Inc.’s local unit alongside the Walmart Inc.-owned Flipkart India over market shares.
Apart from that, Mall, the Chief Executive of JioMart’s grocery retail had also added in his tweet that that the Mumbai-based conglomerate’s online grocery businesses would deliver products in more than 200 Indian towns.
On top of that, latest move from Reliance, owned by the Asia’s richest man, Indian billionaire Mukesh Ambani, 63, having a net worth of $52.7 billion to date, came forth days after the Mumbai-based conglomerate had raised nearly $10 billion in less than two weeks for its newly introduced digital platform, while the social networking behemoth, Facebook Inc.
had purchased 9.99 per cent stake in Reliance’s digital wing, Jio Platform, for a stark sum of $5.7 billion, which in effect would enable Indian grocers and small businesses to reach their end consumers by capitalizing on Facebook’s WhatsApp messaging service.
More importantly, Facebook Inc., the owner of four out of the top six internet services providers, has a 400-million user-base in India, the South-east Asia’s largest Financial HubSpot.
JioMart launches online grocery service amid pandemic-led lockdown
Besides, the launch of Reliance’s JioMart online grocery service came forth as India has been witnessing an uptick in pandemic cases, while a source familiar with the issue was quoted saying on condition of anonymity that the JioMart’s product catalogue would be expanded after an extension of forced closures in one of the most densely populated countries across the globe.
Meanwhile, referring to Alibaba’s success during the SARS crisis, JioMart grocery unit Chief Mall said in a tweet, “Never waste a crisis, they say! A wise colleague mentioned today, ‘Alibaba also flourished starting from the SARS crisis. ’”