Indian business tycoon and Reliance chief Mukesh Ambani is now planning for the growth and expansion of his business network in e-commerce sector as he revealed his recent plans to invade online market by establishing an online retail platform.
Since India is on the brink of becoming the world’s largest e-commerce market, Reliance chief Mukesh Ambani seems to be trying out his business tactics in the e-commerce platform. Keeping Jio in consideration, it is speculated that just like telecom market, Reliance’s new online business platform will take over the e-commerce in India and give hard times to Flipkart and Amazon India. The plan that Ambani has on mind is to connect the already established offline retailers with the newly established online network of Jio customers; i.e. Reliance has a huge number of customer touch points already with Jio possessing 280 million subscribers nationwide and Reliance Retail having around 10,000 points of sale.
The business logic behind this online business platform seems reasonable, as the company also plans to make use of small retailers across the country that provide Jio connections, to fulfil orders in small towns. Speaking briefly about the upcoming business platform during Vibrant Gujarat, Ambani told that they will use “augmented reality, holographic technology and VR devices” in the development of their business. And if implemented exactly as stated, it will not be a normal small scale e-commerce platform, but rather a large “commerce platform to create shared prosperity”.
Ambani raised the concern against data colonization saying that Indians should be in charge of their own data and that no one else should control or own their data. In his own words, “Data is the new oil (in the new world order). And data is the new wealth. India’s data must be controlled and owned by Indian people – and not by corporate, especially global corporations.” Recently, the government has also made certain changes regarding the rules for the foreign e-commerce companies. These changes have surely affected foreign giants like Amazon and Flipkart, but reliance being an Indian e-commerce platform will not have to bear the consequences of the same.