Reliance Industries To Embed eCommerce App Into WhatsApp As They Plot Hostile Take Over Of Retail In India
Reliance Industries has commenced plans to embed its e-commerce app JioMart into WhatsApp. The company is giving itself a timeline of six months to complete the project according to financial.
The Mukesh Ambani-led conglomerate is looking to step up its retail and grocery business in India with this move. The company had raised about $26 billion for its retail subsidiary from investors like Google and Facebook in 2020.
Reliance has been trying to diversify its portfolio from its mainstay oil and energy business; and is now taking on Amazon and Walmart-backed Flipkart in India.
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The move will integrate JioMart with WhatsApp, allowing its millions of users to order products from Reliance without having to exit the app. WhatsApp has over 400 million users in India; with Facebook investing $5.7 billion for a 9.99% stake in Jio Platforms in 2020.
Reliance launched JioMart in May across 200 cities and towns in India. A month earlier, the company had signed an agreement with WhatsApp to boost the reach of the online shopping website.
“Through our investment with Jio, we’re going to bring millions of small businesses and the customers they serve into the digital economy. This will make it easier for businesses to connect with customers and close sales,” a WhatsApp spokesperson said.
WhatsApp Payment which will facilitate the process is already available to about 20 million users in India. The service was launched in conjunction with banks such as State Bank of India, HDFC Bank, and ICICI Bank. It got the government’s green light to go live on a peer-to-peer basis in November 2020.
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