"The new e-commerce platform will empower and enrich our 12 lakh small retailers and shopkeepers in Gujarat", Ambani said on Friday, while attending the summit.
Ambani had previously spoken of leveraging the Jio network for launching some sort of an e-commerce venture.
Jio said that its gross adds at 32.7 million with the lowest industry churn rate at 0.61 percent per month. "As the world moves towards electrical vehicles, Reliance will use hydrocarbons less for fuel and more for producing high-value new materials with a wide range of uses in society", he said adding the oil to chemicals strategy will greatly boost exports and create employment.
Ambani's move into the segment was mulled over many months and yet, people in the know state that RIL has the ability to take the spotlight away from the majors of the industry.
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Paying homage to Mahatma Gandhi in the year of his 150th birth anniversary, Reliance Industries CMD Mukesh Ambani called for a revolution against data colonisation, drawing parallels to Gandhi's movement against political colonisation. Under which, foreign e-retailers Amazon are forbidden from selling products via companies in which they own equity. In order to emphasise on the importance of data protection, Ambani compared data to oil and said global corporations should not be allowed to control India's data.
The attention to the threat of data breaches in India came when Facebook-Cambridge Analytica data leak shook the world with data leak of 87 Mn Facebook users, of which 562,455 users were Indians. And data is the new wealth. "Gujarat has always been ─ and will always remain ─ our first choice", he said at the 9th Vibrant Gujarat Global Summit here.
It now owns over 13m square feet of retail space, though a new wave of online retail in India is taking the company into new territory. "Today, we have to collectively launch a new movement against data colonisation". "Honourable Prime Minister, I am sure you will make this one of the principal goals of your Digital India mission".
It may be noted that the Indian government wants companies doing business in India to store all customer data locally, a demand some global corporations are not inclined to comply with.