Reliance launches JioMart online grocery service, to deliver in over 200 towns

In a significant development, Reliance Industries Ltd (RIL) launched an online grocery service called ‘JioMart’. chief executive of grocery retail at Indian conglomerate, Damodar Mall informed that grocery services will be delivering in more than 200 towns across country. Although Mumbai-headquartered Reliance has t yet anunced JioMart’s launch, however, at time it is reportedly selling $7 billion in new shares. 

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Last month, days after anuncing that Facebook Inc would spend $5.7 billion for 9.99 per cent stake in company’s Jio Platform, Reliance had launched a small pilot of JoiMart deliveries in select areas of Mumbai. newly launched e-commerce venture of Reliance’s retail arm w offers free express grocery delivery from neighbourhood mom-and-pop stores. However, it is expected that JioMart will post a formidable challenge to local rivals, which are also battling big on groceries for ir growth. 

launch of JioMart comes as India is witnessing a surge in coronavirus cases. According to a media outlet, it is also expected that product catalogue on JioMart’s website will be expanded after lockdown restrictions aimed to curb spread of COVID-19 are eased. Mall even took to Twitter and said, “Never waste a crisis y say!”. He even mentioned that ‘Alibaba’ also flourished starting from SARS crisis. 

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Reliance-Facebook partnership 

Meanwhile, US tech giant Facebook had invested Rs 43,574 crore to pick up a 9.99% stake in its subsidiary Jio Platforms. deal - equivalent to $5.7 Billion - values Jio Platforms at Rs 46.24 lakh crore or $65.95 Billion (at Rs 70 per Dollar), making firm "amongst top-5 listed companies in India by market capitalization" as per Reliance's statement.

partnership between two firms will also help Reliance roll out service for India’s grocers and small businesses by capitalising on India’s 40 crore-strong user base for Facebook’s WhatsApp messaging service. 

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