What is the story
Adani Group, one of India's leading conglomerates, is reportedly formulating a strategy to enter the e-commerce and digital payments sector.
The company is said to be in talks to obtain a license to operate on the Unified Payments Interface (UPI), a widely used public digital payments network in India.
The Gautam Adani-led group is also in final talks with banks to launch a co-branded credit card with Adani.
Adani Group to take on tech giants
Adani Group's foray into digital payments and e-commerce puts it in direct competition with industry giants such as Google, Amazon, Walmart and Reliance Industries.
The company is also exploring online shopping opportunities via the Open Network for Digital Commerce (ONDC), a public e-commerce network backed by the Indian government.
This digital public infrastructure attracts hundreds of millions of consumers every month, making it a lucrative platform for organizations building consumer technology companies.
Adani's services now available on consumer app
The proposed e-commerce and digital payments services will be available through the company's consumer app, Adani One, which will be launched in the second half of 2022.
Currently, the app offers travel-related services such as hotel and flight bookings.
The new service will initially target Adani's existing customer base, including travelers using Adani's airports and gas and electricity customers.
Loyalty points and NDTV content boost Adani One
Adani customers will be able to earn loyalty points through bill payments and purchases at the airport, which they can potentially redeem for online shopping.
The strategy is seen as giving Adani the opportunity to expand its operations across a wider geography.
The company also plans to incorporate NDTV news content into its apps this year, which it says will improve user experience and broaden the reach of its services.
