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, as per reports in leading dailies.
Calling itself “Desh Ki Nayi Dukaan", JioMart will currently cater to online shoppers in the suburban Mumbai areas of Navi Mumbai, Thane and Kalyan. It will be in direct competition to established online grocers, Grofers and Bigbasket.
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.
JioMart is offering its users options to shop from 50,000-plus grocery products, free home delivery with no minimum order value, no-questions-asked return policy and an express delivery promise.Reliance Retail aims to connect as many as 30 million neighbourhood stores through the venture, as per billionaire owner, Mukesh Ambani at the company’s annual general meeting in 2019.