India's Adani Group is exploring the possibility of obtaining a license to operate on the country's public digital payments network. It is in discussions with banks to finalise plans for a co-branded credit card, according to Gautam Adani news. These plans to expand into consumer businesses come as billionaire Gautam Adani’s conglomerate, which spans from ports to power, considers investing $84 billion in infrastructure over the next decade.

 If approved, the Adani Group will enter India’s rapidly growing digital payments market, competing with established players like Google Pay and Walmart-backed PhonePe. India's payments market is projected to grow from $357.51 billion in 2024 to $814.43 billion in 2029, as reported by Gautam Adani news.

Additionally, the Group is in talks to offer online shopping via India’s government-backed public e-commerce platform, the Open Network for Digital Commerce (ONDC). If these plans materialise, the services will be accessible through Adani’s consumer app, Adani One, which launched in December 2022.

The Adani conglomerate has been working to recover from a January 2023 report by US short-seller Hindenburg Research, which led to a significant sell-off in the Group’s listed shares. The report accused the Group of stock manipulation and improper use of tax havens, allegations that Adani has denied.

A court-appointed panel stated in May 2023 that India’s market regulator found no evidence to support the allegations, and the country’s top court ruled in January this year that no further scrutiny was required. Four of the seven Adani Group firms have now surpassed their pre-Hindenburg report levels, with Adani Enterprises' shares rising intraday on Friday (24 May 2024). The share price of the flagship company is currently almost 4% lower than it was before the report.

Adani's E-Commerce Vision

Adani Group's move into e-commerce is a smart decision to take advantage of India's rapidly growing online shopping market. According to Morgan Stanley report, e-commerce will grow to $200 billion by 2026. This means that Adani's move is both appropriate and smart. The group of companies wants to create a big online market that can compete with big names like Amazon and Flipkart and also have features that are specific to the Indian customer market. 

Adani has a lot of infrastructure, like ports, transportation centers, and stores, that can be used to help its e-commerce activities, which is a big plus. Through Adani Logistics Ltd. (ALL), the Group already has great exposure and experience in the logistics sector. This will allow for efficient supply chain management, which will lead to faster delivery times and lower costs. By combining these organisational skills, Adani hopes to make shopping as convenient as possible, which could set new standards in the e-commerce industry.

Initiative for Digital Payments

On top of its plans to move into e-commerce, Adani also wants to get into digital payments. The Indian market for digital payments is growing quickly. Adani is getting into this field to revolutionise this particular sector.

A big part of Adani's plan is to build a complete payment environment with payment systems, mobile wallets, and UPI-based services. This environment will make it easier for businesses and customers to make payments that are safe, quick, and easy. Adani wants to give customers a unified digital experience by connecting its payments tool to its e-commerce store. This will make things easier for customers and make them more faithful.

Smart investments and partnerships

Smart partnerships and big investments back Adani Group's plans to grow. As an example, the Group has been talking with different tech partners and banking companies about making strong digital tools. Large amounts of money are also being put into these new businesses to help them grow and improve. Reports say Adani is planning to put a lot of money into infrastructure, data analytics, and protection to help it reach its digital goals. 

Conclusion

Adani Group is planning to get into e-commerce and digital payments, which will allow it to do a lot more business. As evident by Gautam Adani news, Adani wants to become a big player in India's digital economy by spending on new technologies and making the most of the facilities it already has. These projects not only give Adani a wider range of businesses but also put it at the front of India's digital change wave.

As the Adani Group starts this new journey, its success will depend on how well it can come up with new ideas, change with the times, and meet the changing needs of Indian customers. Adani has a clear strategy and makes smart investments that will help it make a big difference in the e-commerce and digital payments sectors, which will help India's digital economy as a whole.