Adani Group ready to enter the digital payments and e-commerce market; challenges Google and Reliance

In a bid to expand its reach, Adani plans to offer online shopping through the Open Network for Digital Commerce (ONDC), a government-backed e-commerce platform that is growing rapidly. India’s digital infrastructure, which includes UPI and ONDC, attracts numerous organizations due to its popularity and large consumer base, attracting hundreds of millions of users every month.

If approved, these new services will be integrated with Adani One, the company’s consumer app launched in late 2022, which currently provides travel-related services such as hotel and flight bookings. The company intends to initially target its existing customer base, which includes airport travelers and gas and electricity service users. This strategy could potentially offer loyalty points for bill payments or duty-free purchases, which can then be used for online purchases.

The entry into the digital payments and e-commerce sectors is in line with founder Gautam Adani’s ambition to expand into fast-growing consumer-facing markets. Despite significant challenges last year, including accusations of fraud and market manipulation by US short-selling firm Hindenburg Research, the Adani Group recovered almost all of its losses and shares in Adani Enterprises rose significantly.

Adani’s plans also include adding NDTV content to its app this year, which will further expand its digital offerings. The group’s expansion comes amid constant scrutiny and criticism from opposition figures, particularly during India’s current election season. Nevertheless, Adani continues to deny any wrongdoing, and an investigation by India’s securities regulator into Hindenburg’s allegations remains unresolved.

As Adani expands its digital ventures, it is seeking to leverage its vast network of ports, airports and power plants, making it a formidable competitor in India’s burgeoning consumer technology market.