Adani Group to integrate new features into its Adani One appThe Adani Group , led by billionaire Gautam Adani , is looking to diversify its empire by venturing into the fast-growing e-commerce and digital payments sectors in India, according to a report by the Financial Times (FT).
The move comes as the conglomerate seeks to build a digital business to compete with rivals such as Tata , Google, and Mukesh Ambani's Reliance Industries .Sources familiar with the matter told the FT that the Adani Group is in talks to apply for a licence to operate on India's public digital payments network, the Unified Payments Interface ( UPI ).
The group is also finalising plans for a previously announced co-branded Adani credit card in partnership with banks.In addition to the payments sector, the Adani Group is reportedly negotiating to offer online shopping through the government-backed Open Network for Digital Commerce ( ONDC ).
The FT report suggests that if finalised, these services would be available through the Adani One consumer app, which was launched in late 2022.The Adani Group appears to be moving forward with its plans to expand into consumer-facing markets.
However, the group's vast infrastructure and logistics network, combined with its existing customer base, could provide a platform for growth in these new markets.
Adani Group to integrate new features into its Adani One app
The Adani Group , led by billionaire Gautam Adani , is looking to diversify its empire by venturing into the fast-growing e-commerce and digital payments sectors in India, according to a report by the Financial Times (FT). The move comes as the conglomerate seeks to build a digital business to compete with rivals such as Tata , Google, and Mukesh Ambani's Reliance Industries .Sources familiar with the matter told the FT that the Adani Group is in talks to apply for a licence to operate on India's public digital payments network, the Unified Payments Interface ( UPI ). The group is also finalising plans for a previously announced co-branded Adani credit card in partnership with banks.In addition to the payments sector, the Adani Group is reportedly negotiating to offer online shopping through the government-backed Open Network for Digital Commerce ( ONDC ). The FT report suggests that if finalised, these services would be available through the Adani One consumer app, which was launched in late 2022.The Adani Group appears to be moving forward with its plans to expand into consumer-facing markets. The FT report indicates that the group's e-commerce and payment offerings would initially target existing users of its businesses, such as gas and electricity customers and travellers at its airports.Analysts quoted by the FT express scepticism about the Adani Group's prospects in the highly competitive e-commerce and digital payments sectors. However, the group's vast infrastructure and logistics network, combined with its existing customer base, could provide a platform for growth in these new markets.
