relevance to transforming lives through self-reliance and sustainability, our vision is balancing growth with goodness”. The Indian conglomerate's headquarters is in Ahmedabad, and it was founded by Gautam Adani in 1988.
After a long journey in commodity trading, importing, and exporting, the Adani Group has built its own port in Mundra to facilitate its trading operations. Adani Group became one of India's top leaders in the exchange earner industry.
However, recent events brought the infrastructure giant to make the switch to digital payments and e-commerce as the company is looking for a more diverse and complete business. After this change, the company can become one of the biggest competitors of Amazon, Walmart’s Flipmarket, and even PhonePe.
Even more so, Adani Group is now considering the option to apply for India’s Unified Payment Interface, also known as UPI. But this is not all Afdani Group is looking for, as they are looking to expand even in the online shopping industry on the Open Network for Digital Commerce (ONDC). This digital platform has the meaning to simplify e-commerce transactions.
The Founder of the Adani Group is now is the second wealthiest entrepreneur from Asia. The discussion for obtaining the license for the public payment network only sustains an environment where the business can become one of the biggest in the industry. Another plan Adani wants to bring forward is co-branding its credit card with Adani and Banks.
Yet, this is not the first time Adani is stepping into the digital world. In 2022, they launched Adani One, an app that gave users the ability to buy travel tickets. Recently, after Dara Khosrowshai, the CEO of Uber, had been on a business trip to India, the company hinted at possible collaborations with Uber.
This transfer to an e-commerce market can put India’s retail market at stake, which is estimated to reach $1,27 trillion. In the Indian e-commerce market, we have Flipkart, which has a valuation of $36 billion and received $350 million in funding last week from Google.
After the industry is led by PhonePe Wlamart’s product and Google Pay from India, earning and cupping over 86% of the entire market, Adani Group will launch its payment service.
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