Mukesh Ambani targets to take 50 million MSMEs online as Reliance launches JioBusiness

Mukesh Ambani targets to take 50 million MSMEs online as Reliance launches JioBusiness
BCCL
  • Reliance today launched JioBusiness, which will offer enterprise grade-level fibre connectivity, digital solutions and devices to enable the micro small and medium businesses.
  • Dukaantech was a term given to companies that help kirana stores or traders grow their business online.
  • Jio’s bet in the segment comes with offering services at a cheaper cost.
India’s richest man Mukesh Ambani’s latest offering is in a space that has been the rage for over a year now – dukaantech, a term given for companies that help kirana stores (mom-and-pop stores) or traders grow their business online.

Reliance Jio today launched JioBusiness, which claims to offer enterprise grade-level fibre connectivity, digital solutions and devices to enable the same.

“Micro, small and medium businesses are the bedrock of Indian economy. Currently, in the absence of an integrated digital services offering and the knowhow to adopt advanced enterprise offerings, they are unable to leverage the power of digital technologies to run their businesses efficiently,” said Akash Ambani, director of Jio in a statement.

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Jio’s bet in the segment comes with offering services at a cheaper cost. The connectivity plans start at ₹901 per month, while the plans with all three solutions start at ₹5,500 per month.

“Currently, a micro and small business spends between ₹15,000 to ₹20,000 per month towards connectivity, productivity and automation tools. Today, we are taking the first step towards empowering small businesses by giving these solutions, along with our connectivity, for less than 1/10th the cost, starting below one thousand rupees per month,” added Akash Ambani in the statement.

In 2019, Reliance Industries Limited (RIL) had made the first step in this direction, with an acquisition of Nowfloats. RIL had acquired a controlling stake of 85% in the Hyderabad-based startup Nowfloats for ₹141.63 crores. Nowfloats offers SaaS based solutions to SMEs, enabling their digital presence.

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These developments can be seen to be in line with Reliance’s e-commerce venture JioMart’s plans, where it is also working with kirana stores and small businesses in the country, to bring them online.

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