Potent mix of retail, telecom, digital media to put Reliance at top

Billionaire Mukesh Ambani’s Reliance is the best-positioned player in the USD 150-billion Indian e-commerce market ahead of Amazon and Walmart due to it owning the potent combination of largest retail store network, dominant telecom operations and strong digital media, an analyst said.

In a new report, Bernstein Research said India is evolving into a three-player market with Amazon, Walmart and Reliance.

The conventional retail business model starts out either offline (Walmart) or online (Amazon).

“Given distribution challenges and India’s propensity to ‘skip a generation’ in most technologies, we believe the Indian e-commerce market will be different. An integrated model (offline plus online plus prime),

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