NEW DELHI:As more and more neighbourhood kirana stores aim to modernise their tech infrastructure, the entry of Reliance Industries Limited (RIL) would help expand the current 15,000 digitized store base to over five million stores by 2023, a Bank of America Merrill Lynch (BoAML) research said on Tuesday. "The current one-time price point of ₹50,000 limits the market to Class A/B stores (turnover of ₹900K /month). "Overall, we expect RIL to help expand the current 15,000 digitized store base to over 5 million stores by 2023," said Sachin Salgaonkar and Sukriti Bansal, Research Analysts at DSP Merrill Lynch (India). "Kirana stores liked the ease of billing/generating GST complaint bills the best. Reliance, with a deep footprint in over 10,000 Reliance Retail outlets pan-India, is working on to create the world's largest online-to-offline new ecommerce platform.

Source: Mint May 07, 2019 14:15 UTC