According to a recent report by Bernstein, a leading global investment research firm, Reliance Industries is poised to dominate India’s rapidly growing e-commerce market in the long term. The report predicts that Reliance, which is already one of India’s largest conglomerates, will leverage its extensive retail network and digital capabilities to capture a significant share of the $150 billion e-commerce market.
Reliance Industries, which is owned by India’s richest man Mukesh Ambani, has been aggressively expanding its presence in the e-commerce space in recent years. In 2019, the company launched JioMart, an online grocery delivery service that leverages its vast network of physical stores and warehouses. JioMart has since expanded to over 200 cities in India and has become a major player in the online grocery market.
In addition to JioMart, Reliance has also made several strategic acquisitions in the e-commerce space. In 2020, the company acquired a majority stake in online pharmacy Netmeds and a minority stake in fashion e-commerce platform Fynd. These acquisitions have helped Reliance to diversify its e-commerce offerings and expand its customer base.
Bernstein’s report notes that Reliance’s extensive retail network, which includes over 12,000 stores across India, gives it a significant advantage over other e-commerce players. The report also highlights Reliance’s strong digital capabilities, including its Jio telecom network, which has over 400 million subscribers and provides high-speed internet access to millions of Indians.
The report predicts that Reliance will continue to invest heavily in its e-commerce business and expand its offerings beyond groceries and fashion. The company has already announced plans to launch an online platform for electronics and home appliances, as well as a digital marketplace for small businesses.
While Reliance faces stiff competition from established e-commerce players like Amazon and Flipkart, Bernstein’s report suggests that the company’s unique strengths and strategic investments will enable it to dominate the Indian e-commerce market in the long term. As India’s middle class continues to grow and more consumers shift to online shopping, Reliance’s e-commerce ambitions are likely to play a major role in shaping the future of India’s retail landscape.
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- Source: Plato Data Intelligence.