Adani Group To Enter ECommerce And Payments Markets With ONDC, UPI Integration: Report

In a strategic move to diversify its expansive empire, the Gautam Adani-led Adani Group is reportedly planning to venture into the ecommerce and payments sectors. This initiative aims to tap into the rapidly growing consumer-facing markets, as revealed by sources familiar with the matter.

According to a media report, the Adani Group is eyeing digital businesses to compete with giants like Google and Mukesh Ambani’s Reliance Industries. Traditionally strong in infrastructure and logistics, particularly in ports, airports, and power, the group is now seeking to expand its footprint in the digital economy.

The group is considering applying for a licence to operate on India’s public digital payments network, Unified Payments Interface (UPI). Additionally, it is finalising a previously-announced co-branded credit card. These moves align with Adani's broader strategy to integrate digital payment solutions into its business ecosystem.

Moreover, the Adani Group is in discussions to offer online shopping through the government-backed Open Network for Digital Commerce (ONDC). ONDC’s interoperable networks allow companies to bypass the need for proprietary ecommerce platforms, facilitating easier market entry and expansion.

Should these plans materialise, the new services will be available on the Adani One consumer app, which was launched in 2022. The app is expected to target existing users of Adani's various businesses, including gas and electricity customers, as well as travellers frequenting its airports. Through the app, users can earn loyalty points from bill payments or duty-free purchases, which can be redeemed for online shopping.

This consumer-focused expansion comes in the wake of significant challenges for the Adani Group. Earlier this year, U.S. short-seller Hindenburg Research accused the conglomerate of market manipulation and fraud, leading to a USD 150 billion plunge in the group's listed stocks. The push into ecommerce and payments is seen as a strategic response to diversify revenue streams and strengthen the group's market position amid ongoing scrutiny.