Reliance Industries Ltd (RIL) has developed a wide range of products to launch an online grocery service branded as 'JioMart.' "This JioMart service introduced in cities," tweeted the Chief Executive Officer of Reliance Retail, Damodar Mall. Jio-Mart lists fresh fruit, vegetables, packaged rice, home cleaning products, and pet food in several other categories on its current platform.
This online service would work against opponents like Grande Basket, Grofers, Amazon Fresh and Pantry, and Flipkart Supermart. To tackle this competition, Jio-Mart is planning to deliver some groceries in over 200 towns.
While Mumbai-centered Reliance has not announced the release of JioMart, it is currently selling $7 billion in new shares at the time it is far away.
Reliance launched a small project of JoiMart service in Mumbai's selected regions, days after saying that Facebook Inc. will be willing to invest $5.7 billion for a 9.99 percent stake in the company's Jio platform last month.
The new e-commerce mission of the retail division of Reliance now provides free express food supply from nearby small shops. JioMart will be an excellent assignment to neighborhood competitors, who also fight big for similar products to grow.
JioMart's launch occurs as the number of cases of coronavirus in India is growing. According to a media source, as the lockdown restrictions to control the spread of COVID-19 are easing, the product list on the JioMart website can also expand. Mall also took to Twitter and said, "No crisis they say will ever waste!". He also noted that 'Alibaba' flourished from the crisis of SARS as well.
Kohlberg Kravis Roberts & Co, Facebook Inc,, and General Atlantic are the investors of Reliance Jio. The company yielded over $10 billion a month through the digital platform business.