Asia's richest person Mukesh Ambani (File photo)

NEW DELHI: Mukesh Ambani’s Reliance has gone live with its most-ambitious last mile hyperlocal kirana-led retail project — Jio Mart, and this is expected to take on online grocery specialists — Bigbasket and Grofers , and large e-tailers with grocerydelivery plans, such as Amazon and Walmart-backed Flipkart .

The initial test-market for the platform is Kalyan, Navi Mumbai and Thane, and this will be scaled up nationally soon, sources said. Reliance has digitally connected the local grocery stores and some of their products can be seen live on its platform. “Currently, kirana stores have been invited to register on the platform,” a source said.

A company spokesperson did not reply to queries on the matter.

Jio Mart, which can soon be downloaded as an app by a consumer, will also enable kiranas to order from Reliance’s cash-and-carry stores, Reliance Market, to replenish their stocks. This will enable the small businesses to compete with their larger siblings from modern retail and other e-commerce platforms, which due to their bulk-buying muscle, get better rates and offers from consumer goods companies and pass them on to the end consumer.

“What Reliance will do is to integrate the inventory and other grocery products from the neighbourhood kiranas on the platform. On its part, the company will also supply products to the kiranas at wholesale rates by aggregating purchasing requirements,” a source said.

At RIL’s 42nd Annual General Meeting in August, Ambani had said, “New Commerce is a massive new business opportunity of $700 billion. The main purpose of New Commerce is to completely transform the unorganised retail market, which accounts for 90% of India’s retail industry.”

