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Ecommerce

Reliance Industries to invest USD 1.4 bln in India for ecommerce expansion

Monday 11 February 2019 | 10:20 AM CET

Reliance Industries have shared their plans to invest USD 1.4 billion in India, a part of which would fund the company’s new ecommerce venture, according to Reuters.

The energy and telecoms conglomerate, which already runs retail stores, plans to expand into ecommerce, the new venture aiming to connect small merchants with its retail network and warehouses.

The company already has more than 500 retail stores in India, selling clothes, groceries, and more.

Earlier in February 2019, China’s government announced that it plans to take the lead in AI technology by 2030, with an AI ethics committee supporting the technology’s development.

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