Reliance Retail earmarks Rs 1000 crore for technology

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Reliance Retail Ltd is planning to invest over Rs 1,000 crore in technology. The company wants to replicate the success it had with the use of right technology in its petrol retail business.

At present, the competition that the company is facing in the retail industry is relatively little. This won’t be the case for long, as many big players are taking a plunge in this industry. The company wants to put in place the right technology for its retail chain, for which it has to buy directly from farmers. High-volume items like fruit and vegetables are a low-margin business; thus, using the right technology to maintain tight inventory controls and management will boost profits.

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