India’s small and medium businesses (SMBs), which are struggling due to the covid-19 pandemic, got a shot in the arm on Wednesday with social media giant Facebook announcing a $5.7-billion investment in Jio Platforms Ltd, which is owned by Reliance Industries Ltd.
With Jio Platforms, Facebook now wants to strengthen the entire ecosystem for SMBs and help realise the vision of Digital India. “This is a confluence of forces between two market leaders and thereby allows them significant inroads and ability to better understand customer behaviour. The coming together of these two giants also lends depth across key layers of the value chain, including connectivity (broadband, mobile telephony), commerce, payments (via UPI/WhatsApp), content (Reliance movies and exchange (Facebook, WhatsApp),” said Sanchit Vir Gogia, CEO and chief analyst, Greyhound Research.
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Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research & Advisory firm. To read more about him, click here.
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