Latest News | Ambani Says Received Strong Interest from Strategic Investors for Reliance Retail

Mumbai, Jul 15 (PTI) Richest Indian Mukesh Ambani on Wednesday said his group's retail venture has received strong interest from strategic and financial investors.

"We will induct global partners and investors in Reliance Retail in the next few quarters," he said at Reliance Industries annual general meeting.

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Reliance Retail has already started pilots of its ecommerce venture.

"We have successfully piloted JioMart grocery model with kirana partners. The beta version of JioMart grocery platform is being piloted in 200 cities. Daily orders have crossed 2.5 lakh, and the number is growing each day," Ambani said.

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Connecting farmers and delivering their fresh produce directly to homes is a key part of the firm's grocery strategy. "This will significantly improve farmer income and incentivise higher productivity," he said.

More than two-thirds of Reliance Retails' nearly 12,000 stores are operated in Tier II, Tier III and Tier IV towns. "It sources over 80 per cent of fruits and vegetable directly from farmers," he said. PTI

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)