What does the deal worth Rs 43,574 crore between Facebook and Reliance Jio mean? Understand in 10 points

Reliance Industries Limited, Jio Platform Limited and Facebook Inc. have announced the signing of a binding agreement, according to which Facebook has invested Rs 43,574 crore, or $ 6.22 billion, in the Jio platform.

1. Facebook will get 9.99% stake in Jio after Facebook’s investment. The deal between Facebook and Jio is said to be the largest foreign investment ever in India’s technology sector. After this investment, Jio has become one of the 5 largest listed companies in India. Let’s know in detail about this deal …
2. After this deal, Facebook will have a 9.99 percent stake in Jio. The deal between Facebook and Reliance Jio has been done for $ 6.22 billion i.e. Rs 43,574 crore. This is the largest ever investment in a technology company in India.
3. Following this investment, a commercial partnership agreement has also been signed between Jio Platforms, Reliance Retail Limited (Reliance Retail) and WhatsApp. According to this, Reliance Retail will be able to run its new commerce business on the platform of Geomart with the help of WhatsApp.
4. Crores of farmers and traders of the country will be able to join Geomart in the same way as they are associated with Amazon, Flipkart, Growers and BigBasket.
5. Farmers doing business through Geomart will be able to receive and pay through WhatsApp payments. WhatsApp payment will be used for digital payment at Geomart.
6. The world’s largest market for Facebook is India. Facebook-owned WhatsApp has 400 million users in India. In such a situation, this deal with Jio is beneficial for Facebook.
7. Geomart has been introduced a few months earlier than companies like Amazon and Flipkart, but its launch is still pending in India.
8. WhatsApp launched WhatsApp Business App in the year 2018 to help small traders in India. After a partnership with Jio, some changes can also be made to the business app of WhatsApp.
9. WhatsApp has more users in India than any other country, but the company is not yet earning from this app. For its earning, WhatsApp has started digital payment service WhatsApp, but currently its testing is going on. The deal cleared the company’s earnings path through WhatsApp payments.
10. The deal will help make Geomart a strong competitor against Amazon and Flipkart. The deal may increase the odds of online grocery delivery companies such as BigBasket and Growers.
11. According to Reliance, the deal will benefit 6 crore micro, small and medium businesses in India, 120 million farmers, 30 million small shopkeepers and lakhs of small and medium businesses in the informal sector.

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