Amazon to buy stake in Reliance Retail’s e-commerce Jio Mart

Amazon.com may buy 9.9 percent stake in Mukesh Ambani’s Reliance Retail. An English channel has given this information. Reliance Retail is a retail company of Reliance Industries. Mukesh Ambani had recently given such information in AGM that he would sell stake in retail. This is on the same lines as Facebook started by purchasing a 9.9 percent stake in the Jio platform.

Bezos and Ambani are in the list of world’s top 5 rich business men

Actually Mukesh Ambani has made net debt free to other companies including Reliance Industries by selling stake in Jio platform. According to information, Amazon wants to buy a preferred strategic stake in Reliance Retail. Please tell that Mukesh Ambani and Jeff Bezos are in the list of Top 5 Wealthy Business Man in the world. With this new strategy, both companies can leave a different mark in the world.

Jio Mart was launched in May

According to sources, Amazon will buy a stake in Reliance Retail for Jio Mart. Through this, Amazon will get preferential access to Jio Mart. Jio Mart is the e-commerce company of Reliance’s retail arm. It was launched in May. It will work on the lines of Amazon.com’s local unit and Walmart’s Flipkart.

Ambani had raised $ 20 billion through Jio

Reliance Industries has raised about $ 20 billion since April this year. Companies like Google and Facebook have bought stakes in it. Explain that earlier this year, Amazon India launched a program for small grocery shoppers. This launch of Jio received a good response at the time of lockdown.