As the world is locked up amid the COVID 19 crisis, the economy has been in bad shape and so is the case of every country including India as well. Unfortunately, the country has been passing from a bad phase ever since the current government came into power. The country’s GDP has been in a bad shape and little efforts seemed to have been carried out by the people in power. While the current crisis has only sprinkled salt on the bad economic conditions of the country. But the country seems to have good news on the other side, since it has huge investment in the pipeline.
In the recent buzz, the social media platform, Facebook seems to have taken a huge stake in the digital domain with a huge Indian conglomerate and the tech giant is ready to give a huge push adding one of the biggest growths in the current market. As per reports, the social media giant, Facebook is ready to invest around $5.7 billion investment in Mukesh Ambani’s telecom company Jio Platforms Limited, which is owned by Reliance Industries and managed by the said billionaire in India. HIs company called Jio Platforms is known to have several brands, which falls under its bigger platform called telecommunications business Reliance Jio.
It has grown huge in the recent past all thanks to competitive costing to make it as the top mobile carrier in the country in terms of revenue gained and the huge subscriber base. This investment seems to have dismayed the commitment to the country and the excitement seems to be doubled with this huge investment taking place thus adding the dramatic transformation, which the company JIO seems to have spurred in India. Announcing about the same, the Facebook officials in its latest blog post claimed that the investment by Facebook will give the social media giant around 10 per cent of stake in Jio Platforms and would also give it a pre-money enterprise value worth $65.95 billion.
India has remained at the forefront when it comes to using the social media platforms like Facebook and WhatsApp messaging services as well. As per reports, it has more than 400 million users here in India. Talking about the same, the company said they would work with Jio to create innovative ways for both the users and businesses to operate their services more effectively in adding up the economy in the digital world. This could include adding up things like JioMart, which remains the small business initiative by Jio along with WhatsApp for connecting people to shops and businesses. The move has come at the right time as the social media giant is coming up with the launch of its payment feature for WhatsApp in India. Thus it would be fair to say that the investment is the key thing for many reasons like getting the access to Jio Platforms to get hitched to the 400 million user base along with getting the political backing of Ambani who remains the mighty man in India.