Reliance has been one of the powerful telecom industries in India for decades. The reliance is one of the largest shareholding companies that possess a huge number of stake investors that are working in collaboration with this industry for the betterment of the nation in one way or the other.
Recently Facebook has announced to invest $5.7 billion by buying a 9.9% stake in Reliance Jio Company in India. This Facebook and Jio deal will be advantageous for both the companies to build up their business outcomes. Facebook would reap several benefits by investing in one of the top leading telecom industries in the nation. After the successful completion of the deal, the reliance has confessed that for a minority stake by any technological company, this deal is massive across the globe and at the same time is the largest in the Indian technological sector.
Why Facebook bought a 9.99% stake in Reliance Jio?
This planned partnership of Facebook with the largest telecom operator of India will also play a key role in the enhancement of Facebook’s technology, especially in virtual reality (VR) and the Internet of Things (IoT). However, the success of these assets will solely depend upon promising access to 5G technology across the country.
Lately, the Jio has already successfully developed its own end-to-end 5G technology and is seeking the consent of the Telecom Authority of India (Trai) for the trials of the 5G technology.
Facebook and Jio deal advantages for India
It is quite inevitable that the synergy of the Jio and Facebook would not only benefit them to raise their business revenues, but also assist the users to live digitally. Also, it worth focusing that in the post-corona lockdown era, this partnership will undoubtedly be a prime contributing factor in recovering the overall economy of India, which has been massively affected by the COVID-19 pandemic.
India is a hub of largest communities on the WhatsApp and Facebook and a myriad of young entrepreneurs. The minor businesses are a core for every economy and in the lockdown era, such businesses need online tools to communicate and to run their businesses successfully. This partnership with the Jio will be proven as the most effective aid for creating new opportunities in the country.
What experts say on the Jio Facebook deal?
It cannot be denied that the recent deal between the two renowned organizations will lead to a better technological and digital future. According to some experts, this deal will trigger the desire and open up various prospects for the WhatsApp to transform WhatsApp into a promising payment app.
As WhatsApp is having over 400 million users in India, by this deal which could be collaborated with over 350 million Jio customers, it would be easier for the WhatsApp to launch its payment platform in the faster-growing economy of India. This interface would act as a single-window for the consumers from which they could connect with one other, buy essentials, and make payments at the same time.
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