According to Uk based Financial Times, Facebook will buy a stake of 10% in Jio a unit of Reliance Industries. Facebook, One of the largest company in the world which owns Instagram, whatsapp and many more social media apps. Since, india is a emerging market for Digital Content. Whatsapp has a user base of 32 crore peoples in india and second largest market for instagram.
Due to the Coronavirus Epidemic, the deals has derailed from it’s time. If this sales occours, Facebook will have a great foot in the market as Jio has a user base of 32 crore peoples and so on. If it proceeds, the deal would give Facebook a key foothold in the Indian market, where its WhatsApp chat service has 400m (40 crore) users and is about to launch a payments service,” wrote Financial Times, a uk based financial newspaper.
In 2019, the owner of Reliance Industries Mukesh Ambani said it’s investor that by April 2021, Reliance Industries will be free from dept.
In 2019, Reliance Industries had singed a billion dollar deal with the Saudi based Aramco and it also bind it with the Microsoft to offer Cloud products. There is also a whisper that reliance industries will bind up with Google to offer a product.
These deals are due to the India’s growing User Base. India will have a user Base of 85 user by 2022.