FaceBook announcing investment of $5.7 billion(INR 43,574 crore) in Jio Platforms Limited, part of Reliance Industries Limited, making Facebook its largest minority shareholder.
India is in the midst of one of the most dynamic social and economic transformations the world has ever seen, driven by the rapid adoption of digital technologies. In just the past five years, more than 560 million people in India have gained access to the internet.Jio has spurred dramatic transformation that in the country.Jio has brought more than 388 million people online in less than four years, which fueling the creation of innovative new enterprises and connecting people in new ways.
One focus of this collaboration will be creating new ways for people and businesses to operate more effectively in the growing digital economy. For instance, by bringing together.Over the years India as special country, Facebook has invested in India to connect people and help businesses launch and grow. WhatsApp is so ingrained in Indian life that it has become a commonly used verb across many Indian languages and dialects. Facebook brings together friends and families, but moreover, it’s one of the country’s biggest enablers of growth for small businesses. And Instagram has grown dramatically in India in recent years as the place where people follow their interests and passions.
- Reliance Jio is among the few big Indian companies that has shown interest in consumer VR, while Facebook owns Oculus
- Facebook has been pushing the Watch platform here in India, Jio has a set user base on the JioMovies platformJio and Facebook already have, which could be mutually beneficial for each other.
Mobile Gaming
India’s mobile gaming landscape has been on fire since Reliance Jio’s entry into the telecom space. Cheap data costs and easier access to the Internet allowed developers to reach more gamers. According to many developers, Jio is hugely instrumental in India’s changing mobile gaming landscape, whereas Facebook is more of a been-there phenomenon.
