Owner of Reliance Industries Ltd. and Asia’s richest man,
Mukesh Ambani will be rolling out his online shopping platform to over
1.2 Million retailers in western India with a plan ambitious enough to
overtake Amazon and Walmart in what is largely considered their forte.
By
combining his Jio Telecom service, mobile devices and a huge retail
network, Mukesh plans to empower and enrich 12 lakh(1.2 Million) of
small-time retailers and shopkeepers in Gujarat.
With a
subscriber base of 280 million, Jio seems quite poised to take on the
challenge with a good rate of success. Considering that only last month,
India tightened on rules that prevent foreign-owned retailers from
selling goods via companies in which they own equity, it largely gives
Reliance and other such companies an edge.
Mukesh had revealed
that Reliance will leave no stone unturned taking advantage of state of
the art technology such as holographs, augmented reality to ensure an
immersive shopping experience.
Is Amazon prepared to take on this humongous threat to its business at least in Asia? Time, as they say, will tell!
