Adani Group is reportedly thinking about getting a license to join India’s public digital payments network. They are also talking with banks to create a co-branded credit card.
According to a report by Financial Times (FT), the Adani Group, led by billionaire Gautam Adani, is planning to expand its consumer businesses.
The conglomerate, which spans from ports to power, is considering a $84 billion investment in infrastructure over the next decade, the report said citing sources.
If these plans are approved, Adani Group will enter India’s growing digital payments market, competing with established players like Google Pay and PhonePe.
Moreover, Adani is in talks to provide online shopping via the Open Network for Digital Commerce (ONDC), a government-supported platform for e-commerce facilitation.
These efforts are part of a wider strategy to establish a digital enterprise capable of rivaling established giants like Google and Mukesh Ambani’s Reliance Industries.
Also Read: Adani Energy Solutions Approves Rs 12,500 Crore Fundraising Plan
As per report, Adani Group plans to make these new services available via Adani One, its consumer app. Adani One app was released in late 2022 and currently provides travel-related services like booking hotels and flights.
Financial Times also reported that the company’s e-commerce and payment services will initially focus on its existing customer base, estimated to include hundreds of millions of people, including airport travelers and gas and electricity consumers.
Want to learn the art and science of managing your money? The 1% Club can help. Details here
