Bentonville, Arkansas-based Walmart's plan to crack India's giant consumer market, compete with Amazon.com Inc., and Asia’s richest man, Mukesh Ambani of Reliance Industries -- who has announced plans to launch his own e-commerce initiative -- is to collaborate with the neighborhood stores. Twelve million neighborhood stores across India account for...
India's Reliance to Launch e-Commerce Platform
Mukesh Ambani, Asia's richest man and chairman of Mumbai-based Reliance Industries will soon launch Reliance Retail, an e-commerce platform in India. The marketplace will allow small merchants or 'kiranas' and other offline vendors to sell their goods online. Reliance Jio Infocomm Limited, the mobile network operator owned by Reliance Industries introduced...
India's Reliance to Launch Fiber-Based Broadband Services
Mumbai headquartered Reliance Industries' chairman Mukesh Ambani announced plans to launch fiber-based broadband services to roll-out Internet connectivity to homes and businesses of all sizes simultaneously across 1,100 cities of India. The JioGigaFiber will come with routers and a set-top box for television. The company has invested more than $36...
4G Provider "Jio" Signs 72 Million Subscribers in 4 Months
Mumbai, India-based Reliance Industries claims that within four months of launching the services of its telecom subsidiary Jio, a record number of 72.4 million customers have subscribed to it. However, Jio services face congestion issues as the interconnect capacity provided by some large operators is "still way below requirement", the...
CBRE Predicts Steep Rise in Luxury Retail
Los Angeles-based property consultant CBRE expects the supply of retail space for luxury brands in India to double in the next three to four years. Vivek Kaul, head of retail services India, CBRE South Asia said, "The existing stock of luxury retail space in the country is approximately a million...
Viacom Acquires 50 Percent Stake in India’s Prism TV
Viacom Inc. has finalized a $153-million deal that increases its presence in India with a 50% interest in the Prism TV group which operates five regional channels, reports Los Angeles Times. Viacom Chief Executive Philippe Dauman said that the investment in Prism was “an important step in building on our...