Reliance has no plans to launch app-based taxi service, tweets official

JioMoney was launched last week to enable users pay for their rides on Uber

Billionaire Mukesh Ambani-led Reliance Industries has no plans to launch an app-based taxi service as the company sees no logic in diversifying into unrelated sectors.

It has been speculated for months that Reliance Jio, the company's telecom venture that has created ripples by signing up 100 million customers in just 170 days of launch, will soon launch a taxi service.

The company had not commented on the speculations so far but took to the Twitter to deny the foray after an online publication stated that Jio has ordered some 600 cars to "kickstart" the service.

A Reliance spokesperson tweeted that the report is "WRONG and DENIED".

The company has no plans to get into unrelated diversification, another official explained.

Reliance Jio had earlier this week announced a strategic partnership with Uber to allow users of the app-based taxi aggregator to pay for their rides through Jio's prepaid wallet.

Enabling commuters to pay for their rides through JioMoney is as far as the company intends to go, the official added.