Reliance Jio and Facebook will look to use WhatsApp for
delivering goods from local neighbourhood
IMAGE: A screen grab of RIL Chairman Mukesh
Ambani's video message following the announcement of Facebook picking up 9.99%
stake in Reliance Jio. Photograph: Courtesy, Reliance Jio on Twitter
"All of us at Reliance
and Jio are delighted to welcome Facebook Inc," he said in a short video
message posted on the group's social media handles.
Earlier in the day,
Facebook announced an investment of USD 5.7 billion (Rs 43,574 crore) to buy a
9.99 per cent stake in the firm that houses Ambani's telecom arm Jio as the
social media giant looks to expand presence in its largest market in terms of
subscriber base.
"The combined power of Jio's world-class digital
connectivity platform and Facebook's intimate relationship with the Indian
people will offer innovative new solutions to each one of you," Ambani
said.
"In the very near
future, JioMart -- Jio's digital new commerce platform -- and WhatsApp will
empower nearly 3 crore small Indian kirana shops to digitally
transact with every customer in their neighbourhood.
"This means all of you
can order and get faster delivery of day-to-day items, from nearby local shops.
At the same time, small kiranas can grow their businesses and
create new employment opportunities using digital technologies," Ambani
said.
While the Facebook deal is
part of value unlocking by Reliance Industries Ltd (RIL) to cut debt, Facebook
will get deeper access to India, the second-largest internet market after
China.
Facebook already has over
400 million WhatsApp users in India and is looking to launch a payment
offering. Having a local partner could help it in navigating various regulatory
issues, including those related to privacy and local storage.
"And in the days to
come, this winning recipe to serve other key stakeholders of Indian society.
Our kisans (farmers), our small and medium enterprises, our
students and teachers, our healthcare providers and above our women and youth
who formed the foundation of a new India," Ambani, chairman and managing
director of RIL, said.
He said at the core of the
Jio-Facebook partnership is the commitment that Mark Zukerberg, founder of
Facebook and he share for the all-round digital transformation of India for
serving all Indians.
"Together, our two
companies will accelerate India's digital economy to empower you, to enable you
and to enrich you. Our partnership will be a great catalyst to make India the
world's leading digital society," he said.
Facebook, WhatsApp, and
Instagram have become household names in India over the last few years.
"WhatsApp, in
particular, has entered our people's daily vocabulary in all the 23 official
languages of India. WhatsApp is not just a digital application. It has
become aapka aur hum sabka, pyara dost. A friend who brings
together families, friends, businesses, information-seekers and
providers," he said.
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