Facebook invests $5.7 billion in Indian internet giant Jio

iStock [illustration]

Social media giant has pumped in $5.7 billion (more than AED 20 billion) for 9.99 per cent stake in the digital arm of India's Reliance Industries.

The deal makes Facebook the largest minority shareholder in the Indian telecom network.

Facebook said the investment marks its “commitment to India”, with plans to link WhatsApp and Reliance's e-commerce venture JioMart.

"In the near future JioMart... and WhatsApp will empower nearly 30 million small Indian kirana (local) shops to digitally transact with every customer in their neighborhood," Mukesh Ambani, Reliance's billionaire CEO said in a video statement.

More from Business

Recently Played

Latest Blogs

  • PINOY BULLETIN: JUNE 09 - 13, 2025

    Pinoy Expat Corner

    Welcome to Pinoy Bulletin, your go-to source for staying informed about important announcements, exciting group activities, community events, and job opportunities! Make sure to tune in every weekdays to Tag Gising Na from 5AM - 10 AM for a comprehensive roundup of important updates.

  • PINOY BULLETIN: JUNE 02 - 06, 2025

    Pinoy Expat Corner

    Welcome to Pinoy Bulletin, your go-to source for staying informed about important announcements, exciting group activities, community events, and job opportunities! Make sure to tune in every weekdays to Tag Gising Na from 5AM - 10 AM for a comprehensive roundup of important updates.

  • PINOY BULLETIN: MAY 26 - 30, 2025

    Pinoy Expat Corner

    Welcome to Pinoy Bulletin, your go-to source for staying informed about important announcements, exciting group activities, community events, and job opportunities! Make sure to tune in every weekdays to Tag Gising Na from 5AM - 10 AM for a comprehensive roundup of important updates.