India’s Reliance Retail Accelerates E-Commerce Growth

India’s Reliance Retail Accelerates E-Commerce Growth

Reliance Industries. Shutterstock.

In parent company Reliance Industries’ latest annual report for the fiscal year ending March 2021, India’s largest retailer revealed that its e-commerce and merchant partnerships business made up 10 percent of its total revenue, up from “near zero” the previous year, The Deccan Herald reports.

Reliance Retail’s annual revenue totalled 1.54 trillion rupees ($21 billion).

In addition to operating 12,711 physical stores as of March 2021, Reliance Retail rolled out e-commerce platform, JioMart, last year in 200 cities; it also owns e-commerce players like lingerie seller Zivame and homeware e-tailer Urban Ladder. The annual report stated that the group aims to improve its capabilities moving forward by deploying AI and machine learning.

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