Reliance Jio received $5.7 Billion Investment from Facebook

Reliance Jio

Jio Platform Limited, India's large mobile operator, has now secured a $5.7 Billion in investment from Facebook Inc.

This strategic investment makes Facebook, the most significant minority stakeholder. Jio Platform is backed by Broadband connectivity, smart devices, Cloud and Edge Computing, Big Data Analytics, Artificial Intelligence, Internet of Things, Augmented and Mixed Reality, and Blockchain technologies.

Jio Platform, part of the Reliance Industries Limited, has brought around 400 million people online in just less than four years. India is in the midst of one of the most dynamic economic and social transformations the world has ever seen, driven by the rapid adoption of digital technologies.

In just a time span of five years, more than 560 million people in India have gained access to the internet.

The Facebook goal is to enable some of the new opportunities for businesses of all sizes, but especially for more than 50 million small businesses across India.

Executive Opinion

Chairman and Managing Director, Reliance Industries Ltd, Mr. Mukesh Ambani, said, "When Reliance launched Jio in 2016, we were driven by the dream of INDIA’S DIGITAL SARVODAYA – India’s Inclusive Digital Rise to improve the quality of life of every single Indian and to propel India as the world’s leading Digital Society. All of us at Reliance are therefore humbled by the opportunity to welcome Facebook as our long-term partner in continuing to grow and transform the digital ecosystem of India for the benefit of all Indians. The synergy between Jio and Facebook will help realise Prime Minister Shri Narendra Modi’s ‘Digital India’ Mission with its two ambitious goals — ‘Ease of Living’ and ‘Ease of Doing Business’ – for every single category of Indian people without exception. In the post-Corona era, I am confident of India’s economic recovery and resurgence in the shortest period of time. The partnership will surely make an essential contribution to this transformation."

Collaboration between Jio and Facebook

Moreover, Reliance Jio and Facebook have revealed that it has entered into a commercial strategic partnership to scale further Reliance Retail new commerce business known by the name as JioMart.

The platform will be going to use Whatsapp as a mode of communication. JioMart is being built in partnership with millions of small merchants and Kirana shops to empower them to serve the need of Indian consumers better.

Both companies will work closely to make sure that the consumers can access the nearest Kiranas, who can offer products and services to their homes with JioMart using the Whatsapp.

PC: Pablo, Pixabay

Note: We at TechSutram take our ethics very seriously. More information about it can be found here.
Udit Agarwal Opinions expressed by techsutram contributors are their own. More details

Udit Agarwal is a Digital Marketer and a Content Marketing Specialist, He enjoys technical as well as non-technical writing. His passion and urge for gaining new insights on gadgets, smartphones and technology has led him to Techsutram. He quenches his thirst for technology through his action oriented writing skills and a profound ability to stay up to date with latest industry trends.

No comments:

Post a Comment

    Your valuable comments are welcome. (Moderated)