Facebook, the world's largest social networking site, has invested 5.7 billion in India's largest media and telecommunications company, Jio Reliance, or about Rs 10 trillion in Pakistan.
Facebook has also invested in other online, technology, and communications companies around the world, including Jio Reliance, while Facebook has also bought apps such as WhatsApp and Instagram.
And now it has invested in Jio Reliance, India's fastest growing media and telecommunications company, the world's second-largest country by population.
Jio Reliance is the company of India's richest man Mukesh Ambani and owns a number of industries including media, telecommunications, e-commerce, and mobile manufacturing.
Under the same company, several companies including Reliance Industries, Reliance Foundation, Network 18 Media Investment, Jio Fiber, LYF Smartphones, Jio Phone, Jio Mart, Jio Net Wi-Fi, Jio Apps, Jio Payment Bank, and Jio Sawan are operating.
Mukesh Ambani started the company in 2016 and in just 4 years, Jio Reliance has brought 400 million people in India online and it is estimated that by 2022, 900 million people in India will be online.
In India, where 400 million people have gone online thanks to Jio Reliance, 200 million people are also online through other means, and there are more people coming online every day due to the improvement in technology and communication is increasing
With more and more people online, India is seen as an emerging online economy, so Facebook has expanded its business by investing in one of the fastest-growing companies there.
According to the news agency Reuters, the Facebook organization has invested 5.7 billion US dollars in Reliance Insurance, that is, 10 trillion Pakistani rupees.
By investing, Facebook bought about a 10% stake in the Indian company.
According to Reuters, Facebook is mostly interested in areas such as Reliance Insurance's online store Jio mart and Jio Payment and will focus on those areas.
Facebook has entered into an investment agreement with an Indian company at a time when Facebook was recently allowed to make online payments in India.
After getting permission from the Indian government, Facebook signed an agreement with Reliance Insurance. WhatsApp has 400 million users in India and is also the largest messaging application in India.