(By Nikhil Pahwa & Vikas SN) Update: It looks like Reliance Retail has e-commerce plans after all. The company's technical team is apparently working on the project and may open an online marketplace in six to eight months, reports The Economic Times, citing a person aware of the development. The publication however notes that the company has not responded to their queries. Earlier (October 15): Reliance Retail, the retail business from Mukesh Ambani's Reliance Group, has decided to discontinue offering books and music via its TimeOut stores. In the Reliance Industries' earnings report for the quarter ending 30th September 2013 (pdf), the company has said that the industry is witnessing a rapid migration of books and music delivery to digial channels, following which "the business has decided to discontinue offering books and music through physical stores being operated under TimeOut banner." What is surprising, however, is that Reliance Retail isn't retailing books and music online, particularly given the context of Reliance Industries launching its 4G business at some point in time in the next decade (we hope). Even if the 4G access business isn't online, there's no reason for the services business (video, music, books) to be contingent on the launch of the access business. The decline of physical retail for books and music was just a matter of time, and there is some indication here in this ET Report on the TimeOut store in Kochi, which indicates a reduction in customer base since people are buying books and music online, and…
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