Could the Central Government’s new Farm Bills further strengthen the Reliance monopoly, finally bringing agribusiness under its umbrella?
Over the last few weeks, Mukesh Ambani-led Reliance Retail has managed to attract big-ticket investments from global IT giants like Facebook and Google. It is speculated to be holding talks with Amazon and Walmart. The global IT giants’ big-ticket investments are made as Reliance is all set to capitalize on a huge un-penetrated retail market in India. Starting from Qualcomm and Intel to Google and Facebook, the Jio platform has maintained to be valued above Rs 4.5 lakh crore.
Mukesh Ambani is eyeing stakes in a host of Indian e-retailers to bolster Reliance’s retail offerings. A number of deals are in the works which, if successful, could help the company compete head-on in a fast-growing online retail market projected to be worth an estimated $170 billion by the end of the next decade.
As India’s largest telecom operator, Jio’s entry into the 5G market was a given. Ambani even told visiting US President Trump in February that Jio would soon launch a 5G network that was completely free of Chinese components. No one could have guessed what was on his mind back then.
Mark Zuckerberg is betting big on India with his recent mega-deal to pick up a stake in Jio Platforms. He’s surely hoping to break the jinx that has dogged Facebook in the Indian market so far.
For Facebook’s Mark Zuckerberg, chaos is a time of opportunity. In India, the Silicon Valley billionaire has 400 million strong markets that his company has sadly failed to monetize. Facebook’s investment of $5.7 billion in Reliance Jio Platforms is Zuckerberg’s biggest investment since acquiring WhatsApp.
Facebook announced that it has picked up a minority stake in India’s Telecom Behemoth, Reliance’s Jio platforms. The Facebook investment in Jio is valued at Rs. 43, 574 Crore for a 9.99 % stake, making the overall valuation of Jio Platforms at Rs. 4.62 Lakh Crore.
A race among telecom giants began in the midst of Coronavirus pandemic. However, after lockdown they are facing new challenges