Why brokerage Bernstein sees Reliance winning India ecommerce war in long run

Reliance is the best-placed player ahead of giants Amazon and Walmart in the $150-billion Indian ecommerce market, according to a note by brokerage Bernstein.

India is evolving into a three-player market with these three companies having cornered the lion’s share among them, the note said.

As per Bernstein, what makes Mukesh Ambani’s Reliance the most potent force is primarily a combination of three factors — largest retail store network, dominant telecom operations and strong digital media.

“We believe Reliance Retail/Jio is the best-positioned player in the largest and fastest-growing e-commerce market.