India: Reliance Industries, one of India’s largest corporations has unveiled that it plans to take on FlipKart and Amazon
Booming Ecommerce Market
India’s booming ecommerce industry is expected to hit around $50b by 2022. US giant, Walmart bought a majority stake ($16b) in FlipKart, a Bengalura based ecommerce company.
At the annual general meeting, Reliance Industries’ Chairman and Managing Director, Mukesh Ambani went on to say…
“We shall create this by integrating and synergising the power of Reliance Retail’s physical marketplace with the fabulous strengths of Jio’s digital infrastructure and servicces”
Source: Times of India