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.

Press Trust of India July 15, 2020 19:02:43 IST
RIL AGM 2020: JioMart has been successfully piloted with kirana partners, says Mukesh Ambani

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.

Updated Date:

also read

Mukesh Ambani offers prayers at Guruvayur Shri Krishna Temple in Kerala
India

Mukesh Ambani offers prayers at Guruvayur Shri Krishna Temple in Kerala

The Reliance Industries chairman presented a cheque — as a kanikka (offering) — of 1 crore 51 lakh rupees and expressed his desire that it be used for annadanam (food for devotees) at the temple

Reliance Retail in talks to acquire Sephora's India rights, says report
Business

Reliance Retail in talks to acquire Sephora's India rights, says report

Sephora currently has 25 stores in 13 Indian cities, as per a filing by Arvind Fashions. The French multi-brand beauty products chain is owned by luxury brand LVMH Moët Hennessy Louis Vuitton

Reliance Retail seeks to double borrowing cap to Rs 1 lakh crore: Report
Business

Reliance Retail seeks to double borrowing cap to Rs 1 lakh crore: Report

Reliance Retail will seek approval from its shareholders to double the borrowing cap in its upcoming annual general meeting. The increase will allow it to raise up to Rs 60,000 crore as debt.