India Conglomerate Launches Online Store to Take on Amazon
JioMart, backed by Asia's richest man, promises more than 50,000 grocery products, free home delivery and a return policy that asks no questions.
MUMBAI, India — Reliance Industries Ltd. started testing its online shopping portal, moving a step closer to billionaire Mukesh Ambani’s goal of setting up a digital platform to take on e-commerce giant Amazon.com Inc. in India.
JioMart, open to select customers who pre-register, promises more than 50,000 grocery products, free home delivery and a return policy that asks no questions. Labelled "the nation’s new store," it is currently available in only three neighbourhoods surrounding Mumbai, according to the website.
The pilot site provides an early glimpse of how the energy-and-petrochemicals conglomerate controlled by Asia’s richest man is stepping up consumer offerings in a pivot toward newer businesses. With the unveiling of the portal, Reliance Industries will join the battle with Amazon.com and Walmart Inc.’s Flipkart Online Services Pvt. for a slice of an e-commerce market that KPMG says is set to grow to $200 billion by 2027.