Home Business Facebook Buys 9.9% Stake in RIL JIO with Largest FDI In India’s Tech Sector

Facebook Buys 9.9% Stake in RIL JIO with Largest FDI In India’s Tech Sector

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Facebook Buys 9.9% Stake in RIL JIO with Largest FDI In India’s Tech Sector
Facebook Buys 9.9 percentage Stake in RIL JIO

Facebook on Wednesday confirms an investment of Rs 43,574 crore to buy a 9.9% stake in Reliance’s subsidiary Jio Platforms.

Facebook investment in RIL JIO into India’s technology is considered as the largest Foreign Direct Investment FDI.

Currently Reliance Jio has over 388 million customers in India and Jio is the fastest growing telecom company in India.

With this investment, Jio Platforms, Reliance Retail & Facebook’s WhatsApp can be seen

together to speed up Reliance Retail Jio Mart using WhatsApp to support small businesses in India.

WhatsApp is planning to launch a digital payment system in India to support the small businesses in India.

Also, RIL JIO said that “this deal will help Facebook compete with growing video-sharing app like TikTok”.

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