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Is Facebook investment in Jio FDI?
Facebook was the first of 10 global entities that are buying a total 24.70\% stake in Jio Platforms for Rs 1.16 lakh crore. These investments, along with Rs 53,124 crore from a rights issue, are helping Mukesh Ambani achieve his aim of making RIL net debt free.
Is Jio private or public?
Reliance JIO Digital Services Private Limited is an Indian Non-Government Company. It’s a private company and is classified as’company limited by share’. Company’s authorized capital stands at Rs 1000.0 lakhs and has 23.6\% paid-up capital which is Rs 236.0 lakhs.
Is Facebook an FDI in India?
Reliance Industries chairman Mukesh Ambani today credited the record foreign direct investment (FDI) in India during the Covid pandemic to Facebook’s announcement in April to invest $5.7 billion (over Rs 43,574 crore) in the Jio Platforms.
What does the Jio-Facebook deal mean for digital payments in India?
Apart from this, digital payment apps like PayTM and PhonePay already facing cash crunches will be forced to join Jio and Facebook’s platforms. This deal will even change the way the Indian public receives information, through news, songs, media, and possibly monopolise it.
What is the long-term impact of Facebook and Jio’s Alliance?
Facebook and Jio’s alliance will not only counter competitors like Amazon and Flipkart, but will rupture the entire ecosystem of e-commerce in India. Although I doubt with the Covid-19 crisis anything significant will happen in the next 3-6 months, so we need to look at the long-term impact of this deal.
What does the Facebook-Jio deal mean for India’s Post-covid recovery?
The Facebook-Jio deal indicates that India’s post-Covid recovery will be fuelled by its retail sector. Foreign businesses have always wanted their finger in the retail pie. It is also no surprise that digital companies and payment service providers are also vying for the same pie.
What is Mark Zuckerberg’s stake in Reliance Jio?
Mark Zuckerberg-led Facebook has bought a 9.99 per cent stake in Mukesh Ambani’s Reliance Jio Platforms for Rs 43,574 crore. This is the largest FDI for a minority investment and makes Jio the fifth-largest firm in India.