Mukesh D. Ambani, chairman of Reliance Industries Ltd., attends the Ajay Mushran Memorial Lecture in New Delhi, India, on Sunday, July 10, 2011.
Pankaj Nangia | Bloomberg | Getty Photos
Asia’s richest man is about to given Amazon’s Jeff Bezos a run for his cash.
Mukesh Ambani, chairman of Reliance Industries, is near launching his personal e-commerce platform – Reliance Retail – to compete with Amazon and Walmart’s Flipkart in India, based on individuals conversant in the matter.
Reliance is certainly one of India’s strongest corporations with a rising retail presence throughout India, a market dominated by neighborhood bodegas, or kiranas.
Ambani’s purpose is to create a web based market just like Alibaba that may let offline retailers and kirana shops promote their items on-line to Indian shoppers, mentioned the sources, who requested to not be named as a result of {the marketplace} continues to be a piece in progress. With 500 million web customers and e-commerce rising 30% a yr, Morgan Stanley estimates that…
