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Daily Briefing

Reliance sets up Jiomart

Dec 31, 2019 by The Passage Team
Reliance sets up Jiomart

Reliance Industries, India’s biggest company by market value, has started its web portal Jiomart, harnessing the might of its two largest consumer-facing businesses to announce its entry into online food and grocery shopping by early next year.

The app will connect both lastmile neighbourhood stores and consumers, leveraging data and technology capabilities of Reliance’s telecom business Jio and the cash-and-carry infrastructure of its retailing arm.

According to officials, the new venture will be an aggregator where it will partner local grocers and equip them with points of sale (PoS) terminals, low interest working capital, inventory management skills, and GST compliance.

Source: Economic Times

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