When it comes to the Indian business arena, one simply cannot ignore Mr. Mukesh Ambani—the owner of Reliance Industries, and the wealthiest businessman of India. He has footprints in some of the most important sectors of the Indian economy such as refining, oil & gas, petrochemicals, telecom, retail, and media. Reliance’s oil refining business has been its crown jewel to date.
In September 2016, Mukesh Ambani officially launched his telecommunication venture called Jio (Joint Implementation Opportunities) and set an example by turning Jio into the largest mobile network in India and the third-largest mobile network operator in the world with over 322.99 million subscribers (source: Wikipedia).
Witnessing the growth in revenues, profits, and market share in the above-mentioned sectors, Mukesh Ambani is now all set to try his hand at e-commerce through his new venture called JioMart.
Mukesh Ambani’s Reliance Retail is all set to embed its e-commerce application JioMart into WhatsApp in the next six months.
The inclusion of the JioMart app in WhatsApp will provide it unlimited reach to over 40 crore users of WhatsApp in India, and thus help build its online presence. This could potentially pose a bigger challenge to Flipkart and Amazon, which currently dominate the online retail game in India. Once incorporated, JioMart will allow customers to place orders with a simple message.
JioMart was launched after Facebook inked a mega $5.7 billion deal with Reliance Retail for 9.9 per cent stake last year. Under the pact, WhatsApp will help Reliance boost the reach of JioMart.
Jio Mart offers a big opportunity in the retail sector. Through this, small shopkeepers will be reached. This will increase both employment and business. Which will make India a big economy. In the coming decades, India will become a digital society.
Mukesh Ambani’s Reliance Retail is already a leader in offline retail and the deal with WhatsApp gives it a much-needed boost to move towards dominating the online segment too.
