Business Desk, Tech for FTCP, New Delhi
Updated Wed, 11 Nov 2020 04:11 PM IST
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Beginning Mukesh Ambani is set to compete with competing companies through Diwali Sale. Through this, Reliance can be difficult for frozen Amazon and Flipkart in India's e-commerce market for a long time. This is because Jio Mart has introduced large-scale discount offers.
The company is offering huge discounts on products
Reliance Industries is offering up to 50 percent discount on confectionery products. Apart from this, phones are also being found at a much lower price on Reliance Digital's website. On Reliance Digital, Samsung's smartphones are getting 40 percent less than competing websites.
Recently, RIL also received large-scale funding, so it would not be challenging for the company to do business in the retail sector at a low cost. The investment continued in Reliance Retail after securing an investment of around Rs 1.5 lakh crore in Reliance Jio. Currently, Mukesh Ambani's Reliance Retail has invested in giants such as KKR and Silver Lake.
Morgan Stanley estimates that by 2026, e-commerce sales in India could cross $ 200 billion. But compared to the telecom sector, there may be a slight problem for Reliance here as it competes with the big-name American companies Amazon and Walmart.
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