Reliance Retail, the retail arm of Reliance Industries (RIL), is planning to expand its presence in the eCommerce space in a big way. At the 41st annual general meeting of RIL, Chairman Mukesh Ambani said that the company is planning to launch a digital marketplace for its B2B business, including the kirana shops, across the country.
“We are rolling out Reliance Digital Marketplace platform to enable millions of small retailers and provide them with enhanced supplier base and product range, better supply chain productivity, digital payment capability, connectivity to customers and credit capability,” Ambani said at the AGM.
“We believe that this initiative will be a driver for economic growth by enhancing business potential for millions of small retailers,” Ambani said, adding that Reliance Retail is committed to delivering superior shopper and customer experience across its physical and eCommerce platforms.
RIL’s B2B business is called as Reliance Market. It enjoys the patronage of more than 15 lakh small and kirana stores as registered members. As far as the other verticals of Reliance Retail are concerned, he said that the company is also looking at rolling out eCommerce initiatives for those verticals as soon as possible.
An angry Ambani at the AGM
It is not very often that you get to see Mukesh Ambani a little angry or agitated perhaps. But that is exactly what happened during the 41st AGM of RIL.
While it was time for shareholders to ask their queries to Mukesh, one of the shareholders challenged the RIL’s rule to allow shareholders to ask queries within a specific time limit. Ambani, seemingly upset over the attitude shown by the shareholder, said a little angrily, “You cannot dictate terms and you cannot demand. You are not the only shareholder and there are others in the queue as well.”
Published 12 June 2015, 19:01 IST