As new technologies emerge, the Adani Group expects to expand into digital payments and e-commerce

The Adani Group is planning digital expansion in the digital payments and e-commerce space

A recent report by the renowned business daily Financial Times reveals that the Adani Group, India’s largest infrastructure conglomerate, is planning to enter the fast-growing digital payments and e-commerce industry in the country. The report says the group is considering applying for a license to operate on the government-backed Unified Payments Interface (UPI) network. This indicates Adani’s ambition to join the fray in India’s booming digital payments market.

Over the last few years, India has seen an exponential growth in digital transactions, led by UPI. Statistics show that by 2029, the value of the payments industry will reach $814 billion from the current $358 billion. Being a dominant player in this space will allow Adani to capitalize on emerging opportunities. If approved, it will compete with popular digital wallets like Google Pay and PhonePe that currently dominate the UPI landscape.

In another important development, Adani learns that it is in talks with banks for a co-branded credit card partnership. This project, if implemented, will strengthen the group’s position in the retail segment. According to reports, these digital initiatives will be available through Adani One, an all-in-one consumer app launched by the conglomerate late last year.

Adani also plans to offer e-commerce services through ONDC, the government’s open e-marketplace that aims to democratize online retailing. Participating in this promising initiative could help the group tap into India’s booming e-commerce market, which has seen tremendous growth fueled by the pandemic.

Both digital payments and e-commerce offer great opportunities for businesses and customers. With its financial capabilities and operational experience across sectors, Adani is well-positioned to make significant contributions and establish a strong presence if the reported plans come to fruition. Time will tell how the group will leverage technological opportunities to strengthen its consumer-focused businesses and complement its industrial strengths.