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India's Reliance will threaten further the plans of US companies like Amazon, Walmart, and Zoom in India with its $20 billion fundraising spree.
On top of private equity and sovereign wealth funds, Google and Facebook were among those that acquired stakes in Reliance's digital unit Jio Platforms.
Facebook's WhatsApp, which has 400 million-plus users in India, will help connect small retailers to JioMart in offering groceries on top of electronics and fashion goods.
Mayank Vishnoi of Resfeber International, a Singapore-based financial advisory firm, pointed out that new digital products targeting various sectors will threaten dominant players and having strategic partners like Facebook and Google validates Reliance's gameplan.
Reliance expects stiff competition from Amazon and Walmart's Flipkart, who are both with well-established warehousing and logistics supply chain in the country and are well-funded.
Amazon and Flipkart deliver an extensive range of goods nationwide that dwarfs JioMart's grocery deliveries in 200 cities.
However, Reliance has a retail footprint of 11,000 stores across 6,700 cities that offer a wide array of products and has partnered with over 45 prestigious international brands, such as Burberry, Tiffany & Co, and Jimmy Choo.
Reliance also has an advantage from the regulatory perspective as the family of its chairman Mukesh Ambani is well-connected politically.
Some industry watchers equate Reliance's comprehensive digital plans ranging from online shopping and cloud computing to digital payments and telecom to China's Alibaba and Tencent.
Reliance's telecom venture Jio dethroned market leaders Vodafone Idea and Bharti Airtel to become India's largest telecom operator.
The Indian company will also develop education and healthcare solutions via its JioMeet video conferencing tool, which garnered 5 million users within days of its launch this month and pose a threat to US-based Zoom in the Indian market.
