Mukesh Ambani, Asia’s richest man and Indian billionaire, is seeking to buy several local online retailers to help broaden the supply of products, people familiar with the matter said today. At present, Ambani is building its own e-commerce platform, trying to reach out to < / P > < p > people familiar with the matter. Reliance Industries, led by Ambani, is negotiating with companies such as online furniture retailer urban ladder, underwear manufacturer zivame and online drug retailer netmeds, hoping to acquire all or part of its shares. < / P > < p > at present, these negotiations are at different stages, and there is no guarantee that an agreement will eventually be reached. Ambani, 63, is seeking to expand her footprint in India’s retail market, which has become a hot spot for global giants such as Amazon and many local competitors. “At a time like this, valuations of many retail outlets are very attractive, and Reliance Industries is in an enviable position with huge capital,” says pronam Chatterjee, co-founder and CEO of bluepi consulting, a consulting services firm. In the next five years, we will see a leading retail group. Through these acquisitions, Reliance Industries is expected to become a clear market leader. ” < / P > < p > according to Indian media reports, Reliance Industries Group may pay up to US $160 million to acquire zivame company in Bangalore and invest about US $30 million in urban ladder, while the transaction price of netmeds is US $120 million. In addition, milk market is also the investment target of Reliance Industries Group. In response, representatives of zivame, urban ladder and netmeds have not responded to requests for comment, while a spokesperson for Reliance Industries declined to comment. < / P > < p > at present, both online retailers and physical retailers are actively attracting Indian buyers. Analysts said that this series of negotiations of reliance industrial group is also part of this fierce competition. At present, Amazon has committed to invest $5.5 billion in India, while Wal Mart spent $16 billion in 2018 to acquire flipkart, a leading local e-commerce company.