Facebook hosted a Fuel-India event today and during the event Facebook CEO Mark Zuckerberg and Reliance Industries chairman Mukesh Ambani had a talk. They spoke about a lot of things. Talking about Jio-WhatsApp, Mukesh Ambani said, “WhatsApp has hundreds of millions of subscribers in India. Jio has hundreds of millions of subscribers in India.
“This means Jio brings digital connectivity, WhatsApp now with WhatsApp Pay brings digital interactivity, and the ability to move to close transactions and create value, and Jio Mart brings the unmatched online and offline retail opportunity, that gives our small shops which exist in villages and small towns in India, a chance to digitize and be at par with anybody else in the world,” shared Ambani.
Zuckerberg also spoke about small businesses in india. “At Facebook, we are in the business of serving small businesses. And nowhere is this truer than in India.”
He also said that, “With more than 60 million small businesses and millions of people around the country relying on them for jobs - these small businesses form a big part of what our partnership with Jio can serve here. This is especially important because small businesses in India will be a key part of the global economic recovery going forward. And we're focused on making sure we build the best tools for them.”
To this the Reliance chairman Mukesh Ambani added that “To my mind, more wealth creation means more employment and more business. And together with our platforms and the tools that we will provide to small businesses and to individual consumers, I believe will drive India to a 5 trillion economy and will make a much more equal India, with more equal wealth growth at the bottom of the pyramid.”
In the month of April this year, Facebook invested $5.7 billion in Jio for a 9.99% equity stake in the company. Apart from this, they revealed that the companies in partnership will be paying attention to 60 million micro, small and medium businesses in India.