Reliance Industries Chairman and Managing Director Mukesh Ambani on Tuesday announced Reliance Industries entry in the E-commerce business. Reliance Industries limited is planning to build an e-commerce platform that will enrich and empower as many as 3 crore small shopkeepers of India said Mr. Ambani while he was speaking at the 5th edition of the Bengal Global Investors summit 2019.
He has earlier too said about Reliance industries much anticipated entry in the E-commerce sector while he was speaking at an event in Gujarat.
Amid Reliance’s entry in the E-commerce, it is speculated that just like in the telecom sector, Reliance is going to enter the online retail market causing a big disruption in the e-commerce. All this is being speculated because till now e-commerce has been largely dominated by foreign players like Amazon and Walmart or by FDI dependent startups like Flipkart. But being a Indian entity Mukesh Ambani’s Reliance Industries can surely give them tough competition as it won’t be hindered by any FDI related regulation
Also the e-commerce market was recently disrupted by the new FDI policies which has made business for e-commerce tougher and has resulted in the huge loss to e-commerce biggies like Amazon and Flipcart. All these works in favour of Reliance Industries and it seems like Mukesh Ambani has chosen a perfect time to enter India’s e-eCommerce market.