New Delhi: The Adani Group is getting ready to step into India’s digital payment and online shopping business, expanding beyond their current travel services offered through the Adani One app, launched in late 2022.
Reports indicate that the conglomerate is contemplating a license to operate within India’s public digital payments network, including the Unified Payments Interface (UPI). Furthermore, discussions with banks are underway to establish plans for a co-branded credit card. In addition to UPI, Adani is eyeing entry into the Open Network for Digital Commerce (ONDC), a government-supported platform aimed at facilitating e-commerce.
These new digital plans fit into the Adani Group’s bigger picture of growing and bringing in new businesses, like when they bought NDTV and renamed BQ Prime to NDTV Profit.
This move shows that Adani Group wants to compete with big players like Google and Reliance Industries. It’s also a way for them to bounce back after facing some tough times, like accusations of fraud. Despite this, their stocks have gone up again.
But some, like the GPFG in Norway, are still not sure about investing in them because they’re worried about ethical issues and are not clear enough.
