What was the benefit of Jio combining with Facebook?
When two huge conglomerates come together, the news is usually mixed — good and bad. The recent partnership between Reliance Jio and Facebook will give huge business benefits for India’s small businesses and kirana-stores through Jio-Mart’s hyperlocal offering, giving them access to a digitalised ecosystem.
How much investment did Jio get?
Google’s investment is aimed to develop an entry-level affordable smartphone with optimisations to the Android operating system and the Play Store. Alphabet Inc’s Google paid Rs 33,737 crore to Reliance Industries’ Jio Platforms, as its biggest-ever investment in an Indian company.
Is Jio anti competitive?
Bharti Airtel Limited (i.e., Airtel) has presented case against Reliance Industries Limited (Holding company of Jio) and Reliance Jio Infocomm Limited (i.e., Jio) before Competition Commission of India (CCI) saying the practices adopted by Reliance Jio are Anti-Competitive (i.e., against the existing competitors in the …
What is the Jio Facebook deal?
On April 22, Facebook said it will invest Rs 43,574 crore in Jio Platforms for a 9.99\% stake in an all-cash deal that will help the oil-to-retail conglomerate reduce debt and strengthen the social media company’s presence in its largest market, especially for its WhatsApp unit.
Is monopoly illegal in India?
It received the assent of the President of India on 27 December, 1969. The Monopolies and Restrictive Trade Practices Act was intended to curb the rise of concentration of wealth in a few hands and of monopolistic practices. It was repealed on September 2009. The Act has been succeeded by The Competition Act, 2002.
Why is Facebook investing in Jio platforms?
Today we are announcing a $5.7 billion, or INR 43,574 crore, investment in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder. This investment underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country.
Why Facebook & Reliance Jio Mart is collaborating with WhatsApp?
With this new collaboration between Facebook & Reliance jio mart, they are ready to use whatsapp as an e-commerce tool. Facebook & Reliance mart hopes that whatsapp will surely became a medium to connect local and small businesses to the consumers.
What is Reliance Jio Mart?
Jio mart is a platform created by reliance digital with the collaboration of Facebook. Jio mart is online to offline business platform which connect consumer to local seller. How the product is delivered through jio mart?
What is the impact of Jio on India?
This investment underscores our commitment to India, and our excitement for the dramatic transformation that Jio has spurred in the country. In less than four years, Jio has brought more than 388 million people online, fueling the creation of innovative new enterprises and connecting people in new ways.