India’s small and medium businesses (SMBs) is set to get a boost with the Facebook and Reliance deal after struggling to fight against the covid-19 pandemic.
Facebook and Reliance Deal
Facebook announced to invest Rs 43,574 crore into Jiomart which is a subsidiary of Reliance Retail Limited. Facebook will use WhatsApp as a platform to help customers directly place an order. The deal will make Facebook’s commitment to boost the growth of Indian entrepreneurship.
In the statement, Facebook said, “WhatsApp already helping people and businesses to connect in India. Partnership with Reliance Retail’s JioMart will help the millions of small merchants and general shops owners to empower them.
JioMart was announced in January 2020 but the operation was limited to only Navi-Mumbai, Thane and Kalyan and the company said that the service will soon be active in other parts of the country. The Jio consumers also get the chance to pre-register to save Rs 3000.
The service is not yet started by JioMart but it is confirmed that there would be over 50,000 grocery products available and there would be no minimum order value and the customer can place an order with a free delivery option on all purchases.
Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, said, “When Reliance launched Jio in 2016 we were driven by the dream of INDIA’S DIGITAL SARVODAYA – India’s Inclusive Digital Rise to improve the quality of life of every single Indian and to propel India as the world’s leading Digital Society.
Reliance welcomes Facebook for our long-term partnership to grow and transform the digital ecosystem of India which will help the Indian shop owners.
The partnership between Jio and Facebook will help to light Prime Minister Narendra Modi’s ‘Digital India’ and would transform India digitally.