Reliance Industries (RIL) chairman Mukesh Ambani on Friday said the company plans to roll out an e-commerce marketplace platform. Mr Ambani was addressing shareholders at the Reliance Industries' 41st annual general meeting or AGM.
The e-commerce initiative will be for fashion, Mr Ambani said. It would act on a marketplace platform on the lines of Flipkart, Snapdeal, Amazon etc. An e-commerce marketplace is a platform to bring together the buyer and seller to transact.
The e-commerce and retail business is expected to grow at 30 per cent annually, Mr Ambani said.
Reliance Industries' retail platform has a network of 2,600 stores across subsidiaries like Reliance Trends, Reliance Footprints, Reliance Digital, and Reliance Fresh. RIL added 930 stores last year.
At 12:12 pm, Reliance Industries shares were trading 1.32 per cent higher at Rs 357.70, outperforming the broader Nifty and the Sensex.
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