Social media giant Facebook has picked up a 9.99 per cent stake in Reliance Industries’ Jio Platforms cover samsung grand neo plus emoji at Rs 43,574 crore ($5.7 billion) making it the largest FDI for minority investment in India. Jio Platforms is a wholly owned subsidiary of Reliance Industries Limited that works on digital apps, digital ecosystems and the mobile service.

The investment by Facebook DEER HUNTING CAMO Cover iPhone 7 cover cover samsung s5 glitter put the value of Jio Platforms at Rs 4.62 lakh crore pre money enterprise value that is $65.95 billion at a conversion rate of Rs 70 to a Dollar. The first collaboration will happen around the Jio Mart.

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In cover samsung galaxy s7 edge van gogh a post, Facebook founder Mark Zuckerberg said with the investment the two companies were to work together on some major projects that will open up commerce opportunities for people across India. He added: communities around the world in lockdown, many of these entrepreneurs need digital tools they can rely on cover samsung s8 tpu to find and communicate with customers and grow their businesses. This is something we can help with and that why we partnering with Jio to help people and businesses in India create new opportunities. readRIL shares zoom over 8% after Facebook deal

In a statement, Facebook’s Chief Revenue Officer cover samsung note 3 neo silicone disney David cover samsung galaxy core prime juventus Fischer and VP and Managing Director, India Ajit Mohan said: “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 cover samsung s5 mini 3d than 388 million people online, fuelling the creation of innovative new enterprises and connecting people in new ways. We are committed to connecting more people in India together with Jio.”

Commenting on the partnership, RIL chairman and cover samsung galaxy prime core MD Mukesh Ambani said everyone at Reliance is “humbled by the opportunity to welcome Facebook as our long term partner in continuing to grow and cover samsung m 20 transform the digital ecosystem of India for the benefit of all Indians”. He said the synergy will help realise Prime cover samsung a5 2017 one piece Minister Narendra Modi’s India mission HARRY POTTER 2 Cover iPhone 7 cover with its two ambitious goals ‘Ease of Living’ and ‘Ease of Doing Business’ for every single category of Indian people without exception Ambani said he was confident of India’s economic recovery and resurgence in the shortest period of time in the post Corona era. partnership will surely make an important contribution to this transformation.”

Read Coronavirus impact: Mukesh Ambani net worth drops 28% to $48 FORD MUSTANG LOGO 3 Cover iPhone 7 cover billion in two months

By adding 388 billion people to the Internet, Jio has been the company that has come closest to cover samsung s7 volpe fulfilling Facebook’s dream of taking the next billion online. The social media giant has tried everything from zero cost internet access to free WiFi in rural areas to get more people to go online and thus offer a larger base for its products.

“Our goal is to enable new opportunities for businesses of all sizes, but especially for the more than 60 million small businesses across India. They account for the majority of jobs in the country, and form the heart and soul of rural and urban communities alike. In the face of the coronavirus, IMPRACTICAL JOKERS QUOTES Cover iPhone 7 cover it is important that we both combat this global pandemic now, and lay the groundwork to help people and cover samsung s6 colorate businesses in the years to come,” the Facebook statement said.

ReadFacebook announces initiative to financially assist those impacted by COVID 19 in India

Suggesting that the synergy would help WhatsApp become the super app that GREEN ALIEN TOY STORY Cover iPhone 7 cover is has always wanted to be, the statement added: “One focus of our collaboration with Jio will be creating new ways for people and businesses to operate more DURAMAX DIESEL LOGO Cover iPhone 7 cover effectively in the growing digital cover samsung moto economy. For instance, by bringing together JioMart, Jio’s small business initiative, with the power of WhatsApp, we can enable people to connect with businesses, shop cover samsung j5 con farfalle and ultimately purchase products in a seamless mobile experience.” WhatsApp is awaiting regulatory approval to enable digital payments for all its 400 million odd users in India.

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