The e-commerce strategy of Mukesh Ambani is taking shape: RIL opens My Jio mart Store for Amazon and Flipkart.

The RIL of Mukesh Ambani took the first flight to execute his e-commerce venture and opened My Jio Mart to take on e-retailers like Amazon and Flipkart.

 The RIL of Mukesh Ambani took the first flight to execute his e-commerce venture and opened My Jio Mart to take on e-retailers like Amazon and Flipkart. A Reliance official confirmed the soft launch of the e-commerce platform, reported Livemint. For now, the report said, the platform would cater to the range of locations such as Navi Mumbai, Thane, and Kalyan. "My Jio Mart store wants to make millions of happy peoples and prosperous by creating successful, long-term and mutually rewarding business partnerships," says it's website.

A few months ago, Reliance announced its new e-commerce plan and the initiative is seen as a $700 billion opportunity for the RIL Company. RIL's retail arm plans to "empower" 30 million small retailers and traders through its website, said RIL chairman Mukesh Ambani at the 42nd Annual General Meeting earlier. Mukesh Ambani said 'The new store is a massive new $700B market opportunity... New Commerce's main purpose is to reinvent the unorganized retail market entirely'. India's unorganized retail sector is about 80% of India's total retail business.

Reliance Retail, which together with Kishore Biyani's Future Group is one of India's largest retail chains, is deploying pan-India-based new-age technology to connect manufacturers, traders, small merchants, consumer brands and shoppers. Reliance Industries Limited's retail arm is also working on the retailer point of sale (POS) solution to create an ecosystem for India's commerce. "This customer-friendly online platform is structured for inventory management, management of customer relationships, financial services and other services," said RIL chairman.

Reliance Retail manages dual-format stores from the vicinity to the supermarket. Reliance Retail has more than 10,091 stores in the country covering nearly 7,000 cities

 For Latest tech and business news stay tune with The Cybermatics Like us on Facebook and follow us on Twitter and Instagram.