Mukesh Ambani All Set To Enter E-Commerce And Compete With Amazon

Mukesh Ambani All Set To Enter E-Commerce And Compete With Amazon

Mukesh Ambani, who is Asia’s richest man is all set to enter the E-Commerce business and compete with brands like Amazon and Flipkart. Ambani leads a lavish life and owns eminently expensive things. Bollywood celebs are often seen visiting Ambani’s resident, which is the second most expensive home on earth.

Reliance  Industries Ltd. will roll out its online shopping platform to 1.2 million retailers and store-owners in Gujarat, sketching out an ambitious plan to take on Inc. and Walmart Inc.’s Flipkart on its home turf.
“Jio and Reliance Retail will launch a unique new commerce platform to empower and enrich our 12 lakh small retailers and shopkeepers in Gujarat,” the Reliance chairman said at an event on Friday. Twelve lakh is equivalent to 1.2 million.

The government of India is supporting such businesses which take on foreign companies. Last month, India tightened rules that will disallow foreign-owned online retailers from selling products via companies in which they own equity, and forbid them from pushing merchants to sell exclusively through their platforms.

Amazon is currently owned by Jeff Bezos who is the richest man on the earth with the market value of $112 billion. Talking about his business in India, the businessman said, “We’re grateful that customers are responding — is the most visited and the fastest growing marketplace in India. It’s still Day 1 for e-commerce in India, and I assure you that we’ll keep investing in technology and infrastructure while working hard to invent on behalf of our customers and small and medium businesses in India.”