As Facebook, the world’s largest social media company, invests $5.7 billion for a 9.99 per cent stake in Reliance Jio Platforms, the deal is also seen as a powerful alliance to take on formidable players in e-commerce and payments space such as Amazon, Flipkart and Google.
The partnership is expected to help Mukesh Ambani-led Reliance’s e-commerce venture JioMart to take on players such as Amazon and Flipkart in the Indian online commerce market, backed by Facebook. According to industry insiders and analysts, the market opportunities for online commerce in the country is expected to touch $200 billion by 2028 from $30 billion in 2018.
“(Out of the investment made by Facebook) about Rs 15,000 crore would remain with Jio, and this is a huge amount which JioMart can use for building its (e-commerce) network. If they are able to execute this properly on the ground, I think they are going to create mas
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Subscribe To Insights
Key stories on business-standard.com are available to premium subscribers only.Already a BS Premium subscriber? Log in NOW
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Preferential invites to Business Standard events.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.