The Adani Group is expanding into e-commerce and digital payments

The Adani Group, a prominent Indian conglomerate with interests spanning various sectors, is gearing up to make a significant foray into the e-commerce and digital payments markets. This strategic move is in line with the group’s vision to diversify its business portfolio and leverage the growing digital economy in India.

The Adani Group plans to apply for a license to operate India’s public digital payments network UPI. Moreover, the company led by billionaire Gautam Adani is in talks with banks to launch a co-branded credit card. Adani is also exploring the possibility of offering online shopping services through the Open Network for Digital Commerce (ONDC), a government-backed e-commerce platform. These initiatives will be integrated with Adani One, the company’s digital platform launched in 2022, which currently offers services such as flight and hotel bookings.

Despite a difficult 2023 marked by allegations of corporate misconduct by Hindenburg Research and OCCRP, Adani Group remains resilient, denying all accusations and labeling Hindenburg an “unethical short seller.” Recent allegations by OCCRP include fraud and misrepresentation of coal quality in 2013. However, the Adani Group has consistently denied these claims and continues to focus on developing its digital and financial services.

Adani Group’s planned ventures into e-commerce and digital payments represent a significant strategic shift to leverage the opportunities of India’s digital economy. By leveraging its strengths in logistics, infrastructure and technology, Adani is well positioned to gain a strong foothold in these fast-growing markets. As these initiatives evolve, they promise to increase consumer choice, support innovation and contribute to the digital transformation of the Indian economy.