- Facebook has bought close to a 10 percent stake in Reliance Jio as per the announcement earlier this year.
- The deal is worth 43574 crores.
- We in India are at present witnessing the economic and social transformation and this investment adds fuel to that.
- The unique feature of this partnership is in the fact that earlier these two platforms were communication platforms but together they are to become value creation platforms for customers and small businesses.
- India has a total of 60 million small businesses and this partnership is to cater to their needs.
- It is going to provide a tool for them to connect and operate massively.
- Technology is to be Integrated with digitization in order to Democratize wealth and value creation for individuals and small businesses.
- The aim is to make India a 5 trillion economy with equal wealth growth.
- The per capita is going to rise.
- And in the next 5 to 10 year India is going to be accelerating as a premier digital society.
- Technology will be used as a proactive tool for health care and education,
- Also, it is going to be a backbone when the vaccines come in.
- This partnership is the largest foreign direct investment in India for a minority stake.
What is it for Facebook and Jio?
- For Reliance Jio, selling off a 10 percent stake in the company would raise billions of dollars of money that will help the company's ambition of cutting parent company Reliance Industries Ltd’s debt to zero by March 2021.
- Facebook, in turn, will be enhancing its presence in India, a market that is its biggest globally with 328 million monthly users and is also the most important for its sister concern, WhatsApp which has close to 400 million users.
I hope it was helpful
-Articulated By Divya Pansari
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