Does the Facebook Reliance merger mean growth in business for India?

The deal gives the social media giant – Facebook a firm foothold in a fast-growing massive digital market and helps the Indian oil-to-telecom conglomerate to significantly cut debt. The deal will help reduce RIL’s debt burden, which has gone up due to the breakneck expansion of Jio and other businesses.

Can JioMart beat Amazon?

JioMart, which was officially launched 2-months back, has surprisingly beaten Amazon and Big Basket, in terms of daily orders. As per the numbers shared by these companies, JioMart is generating 250,000 daily orders, which is more than Amazon’s 150,000 daily orders and Big Basket’s 220,000 daily orders.

What is Jio Google deal?

Last year, Alphabet Inc-owned Google earmarked $10 billion for investments in India and began by putting in $4.5 billion in Jio Platforms for a 7.73\% stake. “The deal will rank among Google largest cloud deals, next to customers like Deutsche Bank.

What is the market share of Jio in India?

The company has a market share of 14.5\% in the segment With a 14.5 per cent market share in the fixed broadband market, JioFiber is within the striking distance to overtake BSNL, which enjoys a 21 per cent market share.

Is Adani richer than Ambani?

Gautam Adani has surpassed Mukesh Ambani to become the richest person in India and Asia. Adani’s wealth has swelled up recently, especially after the onset of the pandemic. His total wealth stood at around $4.91 billion on March 18, 2020.

Who is richer Adani or Ambani?

Adani added $55 billion to his wealth in 2021 compared to $14.3 billion added by Mukesh Ambani. Mukesh Ambani, with a net worth of $91 billion, was ranked as Asia’s richest according to Bloomberg’s Billionaires Index, while Gautam Adani with a fortune of $88.8 billion was trailing Ambani by $2.2 billion.

When Jio Google phone will launch?

The much-anticipated JioPhone Next, a budget Android-based smartphone made by Google and Jio Platforms, will go on sale on November 4, adding a new gadget offering to the gizmo markets this Diwali.

How does JioMart earn money?

Through the JioMart platform, producers are linked with small kiranas and consumers to create a win-win model for the whole ecosystem by benefitting local kiranas from competitive pricing and warehousing strategies on one side and benefitting customers to get their essentials from a variety of products at a click.

How does JioMart make money?

JioMart Revenue Model (How JioMart earns Money) JioMart first promotes all the stores through their platform and then launch their brands with heavy discounts with the strategy of Indian Products (Made in India).

What is Jio-Facebook deal with Reliance Jio?

The Jio-Facebook comes after Microsoft signed a 10-year deal with Reliance in 2019 to power the Indian company’s data centers with its Azure cloud. Commenting on the deal, RIL said this is the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India.

Can Reliance Jio cut net debt to zero by March 2021?

The Facebook-Reliance Jio deal is now the centre piece of the ambitions of India’s biggest private company to cut net debt to zero by March 2021. 1. Win Win Situation Both for RIL and Facebook

Will Jio and Facebook’s open ecosystem work together?

“There will be areas that we will collaborate in but there will be areas where we will potentially not agree with each other,” a Jio official said. Facebook, on the other hand, maintained its stance in favour of an open ecosystem for data to flow across boundaries.

What are Jio platforms and Jio apps?

Apps where users can stream movies, shop online and read news also fall under Jio Platforms. The tie-up includes a commercial partnership with WhatsApp that potentially paves the way for Facebook to make money from the messaging service’s 400 million users in India. The partnership comes at a key time for tech in India.