The Hindu Business Line

Re­liance Re­tail set to launch ‘New Com­merce’ plat­form

- Business · Retail · Tech · Industries · Reliance Retail · Mukesh Ambani · India

Re­liance Re­tail is all set to roll out its New Com­merce plat­form with the aim to be­come one of the top 20 re­tail­ers glob­ally.

“Our beta tri­als with thou­sands of mer­chants across mul­ti­ple lo­ca­tions in the coun­try es­tab­lished the premise of New Com­merce with sig­nif­i­cant in­crease in sales and im­prove­ment in mar­gins for the par­tic­i­pat­ing mer­chants. We are now get­ting ready to roll out the plat­form at a larger scale,” Mukesh Am­bani, Chair­man of RIL, said.

New Com­merce is a mas­sive new busi­ness op­por­tu­nity of $700 bil­lion. “The main pur­pose of New Com­merce is to com­pletely trans­form the un­or­gan­ised re­tail mar­ket, which ac­counts for 90 per cent of In­dia’s re­tail in­dus­try. The 3 crore mer­chants and ki­rana shop own­ers, who gen­er­ate di­rect and in­di­rect liveli­hoods for over 20 crore peo­ple, form the back­bone of In­dia’s com­merce ecosys­tem. Th­ese highly en­er­getic and self-mo­ti­vated en­trepreneur­s have suf­fered in re­cent years be­cause of their in­abil­ity to in­vest in tech­nol­ogy and in­fra­struc­ture,” Am­bani said.

Un­der Re­liance’s plan, the com­pany is de­ploy­ing blockchain, IOT, AI and other tech­nolo­gies on a pan-In­dia ba­sis.

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