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On 22 April 2020.
Mukesh Ambani Chairman & Managing Director of Reliance Jio and Marks Zuckerberg Co-Founder of Facebook has come into the contract; Mark has purchased the major 9.99% of a minority stake of Reliance Jio, (Indian Rupee valuation 43,574 crores) with a core mission to boost in Digital India.
BIGGEST CATALYST MOVE BY RELIANCE JIO AND FACEBOOK Inc
They are into Long term Esteemed partnership which will make India more Digital transformed with their company tie-up. Which clearly indicates the growth of the Digital Medium & Digital Platforms in the coming years. These will boost India's digital economy which will Empower, Enable, Enrich all the Indians.
Facebook Inc. has 3 main Social Platforms which are highly used in India. Facebook, Instagram, and the most used one Whatsapp.
Future of Tie-up
Jio is the largest used Communication Network in India. Jio in collaboration with Whatsapp Payments is planning to tie-up with the Local Kirana Store for Grocery & Daily Product sales through Whatsapp Payment Transaction. Making easy for Indians as of now out of 450 million active internet user 95% of them prefer Whatsapp as their Daily Communication App.
Whatsapp will be launching the Whatsapp Payment within the coming year which gives a clear indication to other money transfer companies like Paytm, phone pay, and other companies into the same segments. Just because of the wide Whatsapp Audience.
Even Jio's coming up with its new E-commerce Platforms along with Jio Mart. This indicates that Reliance Digital, Reliance trend, Reliance Mart & Reliance Store will move Online within the coming years which will affect many established E-commerce Companies like Amazon, Flipkart, and many others.
WHO ALL ARE BENEFITED BY THIS TIE-UPS
Firstly, all the stakeholders of the companies will be benefited as it is going to cover more markets after this pandemic and there are many more reasons which prove the benefits to stakeholders. Farmers, Small & Medium Enterprises, Students, Teachers, Healthcare, Women's & Youth Will be benefited from this tie-up.
Even this tie-up uplift PM Narendra Modi's Digital India Mission. Ease of Living - Ease of doing Business for Entreprises.
But on the other side, this is going to be like a nightmare to other companies.
Companies that are into the same business Industry are going to affect very severely in the Indian market. Now it will be amazing to see how they are coming up with the best solution to fight against this Tie-Up.
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*If you want to see Full Speech of Mukesh Ambani Click Here.