Mumbai, August 27: Tata Group is planning to launch an all-in-one e-commerce app for its consumer products and services soon, according to a Bloomberg report. The app is expected to be ready and the launch is expected by the end of 2020 or early next year, according to sources mentioned in the report.

The objective behind the move is to compete with rivals like Amazon, Flipkart and Reliance. Talking about competition, Reliance just finished raising more than $20 billion from investors, including Facebook Inc. and Google, for its digital services platform. The other majors are also looking to expand their growth and tap the second most populous country. Cyrus Mistry Says 'Not Interested' in Getting Back to Tata Group in Any Capacity.

The conglomerate wants to make a significant presence in the online market. According to a forecast by Cisco Systems Inc, internet users are expected to reach 900 million by 2023. The consumption of content and people using smartphones to shop and pay online has also increased tremendously.

(The above story first appeared on LatestLY on Aug 27, 2020 10:51 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).