After Reliance Jio, big investors of the world are wishing to invest in retail, deal may be soon

Reliance Industries Chairman Mukesh Ambani at the 43rd AGM of Reliance Industries reported that within the next few quarters, deals with global strategic partners and investors for Reliance Retail Will go.

In Reliance Industries' 43rd AGM 2020, Reliance Industries Chairman Mukesh Ambani said that after Reliance Jio, now large investors are choosing to invest in the company's retail segment.

Giving information about Jio Mart, he said that many global strategic and financial investors have shown tremendous interest in investing in Reliance Retail.

Reliance Chairman Mukesh Ambani said that within the next few quarters, deals will be made with global partners and investors for Reliance Retail. He said that the company has already started its pilot e-commerce venture.

He said that the company is successfully running the Geomart grocery model in association with local shopkeepers. At present, in more than 200 cities of the country, through the Geomart Grocery platform, consumers are getting daily necessities at home.

Mukesh Ambani said that Geomart has crossed 2.5 lakh orders in a day. The number of grocery orders from consumers is increasing every day. He said that Geomart is buying its produce directly from farmers and reaching consumers through local shopkeepers.

Due to this, farmers are getting good price for their produce and their income (farmers) is increasing. Also, increasing their income is also helping to increase their productivity.

Reliance Chairman said that around 12,000 stores of Reliance Retail are present in Tier-2, 3 and Tier-4 cities. This number is two-thirds of the total stores of Reliance Retail.

He told that more than 80 percent of the fruits and vegetables available in Reliance Retail stores are purchased directly from farmers. This is helping consumers in providing good quality farm products.