Mukesh Ambani's JioMart to enter the fast commerce market in June

Mukesh Ambani's Reliance Industries may enter the rapid commerce industry as early as next month, according to reports. According to persons familiar with the matter, Reliance Retail's JioMart could launch the service shortly to compete with Zomato's Blinkit, Tata Group's BigBasket, Swiggy's Instamart, and Zepto. JioMart will initially deliver groceries in seven or eight cities. The company will eventually expand to cover more than 1,000 cities. This follows the discontinuation of Reliance's 90-minute grocery delivery service, JioMart Express. JioMart currently provides customers with scheduled and next-day delivery choices, but "over time, JioMart will also deliver non-grocery items through quick commerce," according to the source. This is where it can effectively tap into Reliance Retail's over 18,000 stores across categories and formats, while "JioMart is focused on hyper local omni-channel presence and continues to serve its customers from thousands of stores located in proximity