Received strong interest from strategic and financial investors for stake in Reliance Retail, says Mukesh Ambani

“Four things that give me huge satisfaction are: first, more than two-thirds of our nearly 12,000 stores are operated in tier II, tier III and tier IV towns. Second, the deep-rooted bond with tens of thousands of farmers that has helped us source over 80 percent of our fresh fruits and vegetable directly from farmers. We sell more fruits and vegetables than any other organised retailer in the country.

“Third, we continue to provide large employment and development opportunities for lakhs of people across India. Fourth, our growth model is based on partnership with small merchants and shopkeepers,” Ambani added.

About JioMart, Ambani said that the success of JioMart has led to over 250,000 orders a day within a few weeks of its launch.

JioMart is a tech-enabled partnership that will link producers, traders, small merchants, consumer brands and consumers.

“Within a few weeks of launch, we have reached over 250,000 orders a day and the numbers continue to grow each day. JioMart is now focused on scaling its geographical reach and delivery capabilities,” said Ambani.

“In addition to grocery, we will expand JioMart to cover electronics, fashion, pharmaceutical and healthcare in the days ahead. In the coming years, we will cover many more cities, serve many more customers across India, and expand to many more categories. We will reduce inefficiencies thereby creating more value for everyone in the retail ecosystem,” he added.

The company is also accelerating the launch of JioMart across the country. Ambani said: “Jio Mart is connecting farmers and delivering their fresh produce directly to homes is a key part of our grocery strategy. This will significantly improve farmer income and incentivise higher productivity. New commerce will transfer significant new value to consumers, producers and merchants. We are accelerating the rollout of JioMart.”

He added: “We have successfully piloted our JioMart grocery model with kirana partners; and are piloting the beta version of the JioMart grocery customer online platform in 200 cities. JioMart is obsessed with providing convenience and a superior shopping experience to consumers.”

Speaking about the tie up with Facebook and its role in JioMart, Ambani said: “WhatsApp, which is a Facebook product, is already the platform of choice for Indians and Indian businesses to connect with each other. Over 400 million WhatsApp users in India bring unique value to our partnership.

“Jio’s new commerce platform—JioMart and WhatsApp—will be working closely to create growth opportunities for millions of Indian small merchants and kirana shops.”