RIL AGM 2020: JioMart has been successfully piloted with kirana partners, says Mukesh Ambani
More than two-thirds of Reliance Retail's nearly 12,000 stores are operated in Tier II, Tier III and Tier IV towns.
Mumbai: Reliance Industries Limited chairman Mukesh Ambani on Wednesday said his group's retail venture has received strong interest from strategic and financial investors.
"We will induct global partners and investors in Reliance Retail in the next few quarters," he said at Reliance Industries annual general meeting.
Reliance Retail has already started pilots of its ecommerce venture.
"We have successfully piloted JioMart grocery model with kirana partners. The beta version of JioMart grocery platform is being piloted in 200 cities. Daily orders have crossed 2.5 lakh, and the number is growing each day," Ambani said.
Connecting farmers and delivering their fresh produce directly to homes is a key part of the firm's grocery strategy. "This will significantly improve farmer income and incentivise higher productivity," he said.
More than two-thirds of Reliance Retail's nearly 12,000 stores are operated in Tier II, Tier III and Tier IV towns. "It sources over 80 per cent of fruits and vegetable directly from farmers," he said.
Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
Facebook buys 9.9% stake in Reliance Jio: Why it is a win-win deal for both; key highlights of $5.7 billion deal
Facebook makes the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India, Reliance Industries Limited (RIL) said in a statement.
The RIL chairman also announced that his group''s digital arm Jio is developing a homegrown 5G telecom solution.
RIL AGM 2020: Mukesh Ambani says capital raise complete, Reliance will now focus on adding strategic partners
The company's newly launched video-conferencing app JioMeet been downloaded by over 500 million users.