Fb pronounces funding in India’s Jio Platforms Restricted
The Kabir family's textile factory in Delhi has been in operation since 1969. Now they use Facebook, Instagram and WhatsApp to reach new customers
Facebook has announced an investment of $ 5.7 billion / £ 4.6 billion or INR 43,574 billion Jio Platforms Limited, Part of Reliance Industries LimitedThis makes the social media company the largest minority shareholder.
This investment underscores Facebook's commitment to India and its enthusiasm for the dramatic change that Jio has driven in the country. In less than four years, Jio has brought more than 388 million people online to help create innovative new businesses and connect people in new ways. Facebook has set itself the goal of bringing more people in India together with Jio.
India is in the midst of one of the most dynamic social and economic changes the world has ever seen, driven by the rapid adoption of digital technologies. In the past five years, more than 560 million people in India have had access to the Internet.
Facebook's goal is to open up new opportunities for companies of all sizes, but especially for more than 60 million small businesses across India. They make up most of the jobs in the country and form the heart and soul of rural and urban communities. Given the corona virus, it is important that both companies fight the global pandemic now and lay the groundwork to help people and businesses in the years to come.
One focus of Facebook's collaboration with Jio will be to create new ways for people and businesses to act more effectively in the growing digital economy. For example, by bringing them together JioMart, Jios Small Business Initiative with the Power of WhatsappWe can enable people to connect with businesses, buy products and ultimately buy in a seamless mobile experience.
India is a special country for the social media company. Over the years, Facebook has invested in India to connect people and help businesses start and grow. WhatsApp is so deeply rooted in Indian life that it has become a commonly used verb in many Indian languages and dialects. Facebook brings friends and families together, but it's also one of the country's biggest growth drivers for small businesses. And Instagram has grown dramatically in India in recent years as a place where people follow their interests and passions.
The Facebook company is looking forward to driving its investments in India's dynamic digital economy. Her efforts with Jio will focus on opening new doors and promoting India's economic growth and the well-being of its people. The company looks forward to working with Jio and future collaborations in India to further this vision.
