Amidst the coronavirus lockdown, Reliance Industries Limited (RIL) has launched its online grocery shopping portal Jiomart. Damodar Mall, CEO of Reliance Retail’s grocery business, said that Jiomart is serving more than 200 cities in the country. The company is offering a discount of 5% on the MRP of the product. Jiomart launched the pilot project in three suburbs of Mumbai last month to serve customers.
Jiomart will give competition to Flipkart and Amazon
With the launch of Jiomart, Mukesh Ambani, chairman of Reliance Industries Limited, Asia’s richest man, has come one step closer to joining hands with Amazon and Flipkart in the e-commerce market. According to an estimate by KPMG, the e-commerce market in the country could reach $ 200 billion by 2027. However, a Reliance spokesperson declined to comment on the launch of Jiomart.
Booking facility through WhatsApp
Shopping at Jiomart can be done through Facebook-owned company WhatsApp, which has around 400 million users in the country. Facebook has said that it hopes that a partnership with Jiomart will help WhatsApp become an important tool to connect with small businesses.
Foreign company KKR also invested
US-based KKR & Co (KKR & Co) on Friday announced an investment of 113.7 billion rupees ($ 1.5 billion) in Jio. KKR is one of the largest private equity funds in the world. KKR is buying a 2.3 percent stake in Jio. Prior to this, she has raised a huge amount from companies like Facebook and Silverlake.