While Global economies are reeling with the effects of COVID19, Mukesh Ambani’s clairvoyance has struck the silver lining of this cloud. Reliance Jio gained the single largest historical investment worth $5.7 Billion (₹43,574 Crore) by Facebook. With the Facebook – Reliance Jio deal, Facebook becomes the largest minority shareholder in Jio Platforms Ltd. with a 9.99 percent stake.
The effects on Indian Economy
This newly established relationship between the two global giants is certainly beneficial to both and especially, to the Indian Markets. In his blog post, Facebook CEO Mark Zuckerberg, expressed his commitment to India and enabling new opportunities to businesses of all sizes. Mukesh Ambani, Chairman and Managing Director of Reliance Industries Ltd. spoke about how the deal will help realize Prime Minister Narendra Modi’s “Digital India” mission. This partnership will contribute immensely to the recovery of Indian Economy and lay groundwork for a plentitude of jobs across the country says Business Astrologer and Astro-strategist Hirav Shah. As per Numerology JIO adds to 9 number=Mars=which represents Electronics, Digital etc.
How it benefits the Digital Platforms
An important aspect of this alliance is the pact between Whatsapp and Reliance Retail to boost Jio-Mart. Jio-Mart aims to connect local grocery stores to customers, while Facebook aims to launch a payment app via Whatsapp. Facebook can greatly help the initiative of Jio-Mart in a market already dominated by many e-commerce giants like Amazon, Flipkart etc. In turn, Jio has 388 million users in India and with Jio giving access to the internet, Facebook will benefit by gaining a stronger local foothold in the Indian market, feels Hirav Shah.
What Indian Consumers will gain
Competition in the markets is always beneficial to the consumers and this deal will provide much needed relief in that matter. The monopoly of the e-commerce companies in India will suffer a blow with the growth and influence of Jio-Mart. The local store owners will get a broader customer base. The customers will be able to connect with the local shops and receive a seamless online buying experience.
Good Booster for Telecom sector
Jio, reportedly, has developed its own 5G end-to-end technology. On the other hand, Facebook is running ‘The Telecom Infra Project’ whereby it is deploying innovative technologies for more efficiency in the field. It is fair to say that the Facebook – Reliance Jio deal brings a lot of promise to promote the telecom sector in India.
With huge experience of working with large international companies, Business Astrologer and Astro-Strategist Hirav Shah strongly feels that this established friendship between the digital giant of the West and the powerful partner in the East, is one of the biggest signs for hope and growth in recent times.