MUMBAI: Reliance Industries, India’s biggest company by market value, has started its web portal Jiomart, harnessing the might of its two largest consumer-facing businesses to announce its entry into online food and grocery shopping by early next year.
The app will connect both lastmile neighbourhood stores and consumers, leveraging data and technology capabilities of Reliance’s telecom business Jio and the cash-and-carry infrastructure of its retailing arm.
According to officials, the new venture will be an aggregator where it will partner local grocers and equip them with points of sale (PoS) terminals, low interest working capital, inventory management skills, and GST compliance.
In January 2019, chairman Mukesh Ambani announced that group companies Reliance Retail and Jio would jointly launch a new ecommerce platform in the country.
At present, services of the website with the tagline 'India ki nayi dukaan' are available in the outskirts of Mumbai, in suburbs such as Thane, Kalyan and Navi Mumbai. The site offers free home delivery, pre-registration discounts and options to buy more than 50,000 grocery products online.
"Kiranas are being registered and given POS machines with integrated billing applications. Also, it enables digital transactions, promotions including loyalty, discount coupons by fast moving consumer goods firms and supply chain management," said an official privy to the launch of the service.
Reliance Retail had logged net sales of Rs 1.3 lakh crore last fiscal.