Tata Group plans to beef up its e-commerce presence by buying Indian online retailers say media reports. The group has approached IndiaMart InterMesh a business-to-business marketplace, for a potential stake purchase. It also plans to target Supermarket Grocery Supplies commonly known as BigBasket, for future investments. The group is scouting for local e-commerce assets at a time when the race for Indian online shoppers is heating up.
Tata’s digital initiative will include an all-in-one e-commerce app will bring disparate online businesses of its entrenched consumer units under one umbrella. The businesses that Tata Group is targeting include Tanishq, Titan watch showrooms, Star Bazaar supermarkets, chain of Taj hotels and a joint venture with Starbucks Corp in India.
The expansion of Reliance Industries into technology and retail businesses has added urgency to Tata’s plans. Mukesh Ambani raised more than $20 billion this year by selling 33 per cent of his technology venture Jio Platforms to investors including Facebook Inc. and Google. His Reliance Retail Ventures has raised upto $5.1 billion from private equity and sovereign wealth funds in the past two months.
