Asia's richest man to take on Amazon boss Jeff Bezos in India's booming e-commerce sector
Mukesh Ambani, Asia’s richest man, is set to take on Amazon's Jeff Bezos in India as the billionaire magnate launches his own rival e-commerce venture in the world's second most populous country.
Reliance Industries, the Mumbai-headquartered conglomerate owned by Mr Ambani, is drawing up plans to roll out its online shop services to 1.2m retail businesses in western India as competition to grab a share of India’s fast-develo e-commerce industry intensifies.
Mr Ambani, who controls a $43 billion fortune in petrochemicals, energy, telecoms and textiles, is planning a push into the e-commerce space by adopting new technologies such as augmented reality to create an “immersive shop experience” and compete with the likes of Amazon and homegrown competitor Flipkart.
The e-commerce plans from the businessman will involve the combination of his mobile network operator Jio, which has 280m subscribers, with his additional mobile phone and physical retail ventures.
Reliance Retail, first launched in 2006, serves over 3.5m customers per week through a network of local shops, supermarkets and wholesale cash and carry outlets in more than 6500 Indian cities and towns.
It currently owns over 13m square feet of retail space, though a new wave of online retail in India is taking the company into new territory.
The trio of Reliance Industries’ businesses will combine to bring Indian merchants online.
“Jio and Reliance Retail will launch a unique new commerce platform to empower and enrich our [1.2m] small retailers and shopkeepers in Gujarat,” Mr Ambani said at an event on Friday.
In India, e-commerce has seen mass adoption as smartphone penetration and improved internet connectivity through 4G networks has boosted consumer appetite beyond cities like New Delhi and Mumbai.
According to the India Brand Equity Foundation, a subsidiary trust of India’s department of commerce, the online retail market is expected to grow to $200bn by 2026, up from $38.5bn in 2017.
Online retail sales for 2018 are expected to rise as much as 31pc to $32.7bn, with growth being driven by more companies looking to tap into the Indian market.
So far, India's booming e-commerce market has largely been a duopoly between Amazon and Flipkart, a domestic rival based in the southern technology hub of Bangalore which was started by two former Amazon employees.
Wal-Mart paid a $16bn to acquire a controlling share in Flipkart last year in the biggest foreign direct investment in India's history.
Flipkart has also received billions of dollars in funding from Softbank of Japan and Tiger Global.
Amazon, which first launched its online retail platform in India more than five years ago with a limited sion of products on offer such as books and films, has committed $5bn to its Indian operation.
But the two US-controlled companies which dominate the market - Amazon and Flipkart - are facing growing pressure.
With a general ion due in May, the go nment of Prime Minister Narendra Modi recently unveiled new rules designed to prect small shopkeepers from online competition by restricting the level of discounting which the online giants can offer customers.
Mr Ambani sought to harness concerns that India should support the emergence of domestic champions in e-commerce.
"Today, we have to collectively launch a new movement ag inst data colonisation. For India to succeed in this data-driven revolution, we will have to migrate the control and ownership of Indian data back to India - in other words, Indian wealth back to every Indian," he said.
Amazon is continuing to expand its Indian operation, where it is currently advertising for 660 open roles in its Bangalore office alone - the second most worldwide after Seattle.
The company also has 450 open positions in Hyderabad, according to media reports.
译文来源：三泰虎 http://www.santaihu.com/46907.html 译者：Jessica.Wu
Crispychicken12 hours ago
What zes me about India is that that can Be cutting edge in technology and have massive zing technological cities but yet still live in a 19th century
Sevenov14 hours ago
Ambanis, both brothers, have been at the forefront of bludgeoning and exploding Indian market. What have they done for the man in the street? How much job creation have they invested in? What about the charitable institutions the super rich are supposed to support like Bill Gates and Warren Buffet? The Indian super rich build temples in their names (like the Birla temples) to impress the masses. Nothing benefits the poorest of the poor who don't even have access to clean water or toilet facilities.
Sunny9 hours ago
Ambani or Jack Ma fact check?
r13 hours ago
Develop a better ship structure and let global customers order from Indian businesses. Similar to Chinas infrastructure in ship. With the prices in India if kept low of its locally produced items it could supersede china. in no time.
ASe14 hours ago
Reliance cannot compete with Amazon and Walmart. It’s a reality.
tl13 hours ago
3/4 of India's population can barely afford to walk across the street, let alone order something from this Amazon-lite every other month to make it even viable on the world stage. Why do other countries always have to copy American innovation and then pretend that they are more successful at it? If they are so smart, why didn't they think of the idea to begin with? Instead they copy what others have done successfully.
Harry Baals2 days ago
No the people in India can spend their $5 a week paychecks shop online.
Suraci12 hours ago
Second most populous country with the most poverty level.
Da Greek14 hours ago
He should create a website similar to Amazon that sells toilets for Indians. Only 30% of the population has access to indoor plumbing.
Oracle9 hours ago
Taking on Amazon and Bezos- Good Luck with that ten years ago would have been a good time to start
phoq off13 hours ago
No toilets but E commerce....ahhhh, priorities.
Junior13 hours ago
Please take out Amazon so people can shop like they use to back in the days
Darren7 hours ago
Build some toilets, give rural people ricity, water and education.
Richard12 hours ago
Maybe India should build more toilets for its citizens before it realistically competes with the big boys like America and China.
J John4 hours ago
Article should say Bezos and his ex wife since she now own half of Bezos shares of Amazon
Paul13 hours ago
Hope they put Amazon out of business in India.
Joseph B7 hours ago
Good they can buy their child brides online now;)
Captain Downer13 hours ago
Maybe they can start selling toilets in India.
Sean Derrick6 hours ago
Big difference in Indian and China markets collared compared to here in the USA is they won't let a foreign company suceed
kane11 hours ago
this guy owns the largest curry chain restaurant in India. now he is planning to sell his recipe online..
Jim9 hours ago
India will always be too corrupt to amount to much on the world stage.
John12 hours ago
If you are sa foreigner doing business in India, the Indian go nment will regulate/tax you out of business as soon as there is a single Indian business competing with you.
anthony6 hours ago
Good timing since Bezos is about to get ripped off in divorce court.
Randy12 seconds ago
One word, “toilets”
Nat Clean Coal4 hours ago
Trust me, Bezos isn't losing any sleep.
Junie B2 hours ago
It's almost sad to know Asia's richest man is from India while most of the people in the country are poor without clean water.
JD9 hours ago
India, and specially the men, treat women as cattle. Until this changes, I won’t be buying a single item from them.
Sub Tech6 hours ago
you know who is the richest man in the world? the man with the best HEALTH
Anonymous8 hours ago
Who cares about India??
Peru9 hours ago
no wonder they don't want zon selling their own products. lol
Richard12 hours ago
India is the joke of "major powers".
Randy10 minutes ago
Toilets.... build toilets please
A8 hours ago
YUP, it's a matter of time when Amazon will lose market somewhere because of competition.