In the postCOVID era, comprehensive digitalisation will be an absolute necessity for revitalisation of the Indian economy.
JioMart, a new e-commerce platform is being built in partnership with millions of small merchants and kirana shops to empower them to better serve the needs of Indian consumers.
India’s kirana stores, largest employers, are keen to upgrade their tech and this is driving a wave of modernization.
Facebook, Inc. will invest Rs. 43,574 crore in Mukesh Ambani’s Jio Platforms Limited, a new age technology firm building a Digital Society by bringing together its digital apps and ecosystems supported by a speedy connectivity platform under one umbrella.
These companies will work to ensure that consumers are able to access the nearest kiranas who can provide products and services to their homes by transacting seamlessly with JioMart using WhatsApp. India’s 80% retail market is unorganized.
As one of the largest populated country, India is home to some of Facebook’s most thriving communities on WhatsApp, Facebook and Instagram.
The focus of the partnership will be 60 million micro, small and medium businesses, 120 million farmers, 30 million small merchants and millions of small and medium enterprises in the informal sector, in addition to empowering people seeking various digital services.
The partnership assumes special significance for India in the wake of the severe disruptions caused by the coronavirus pandemic in the Indian — and the global — economy.
Mukesh Ambani, CMD, Reliance Industries Ltd, says, “All of us at Reliance are therefore humbled by the opportunity to welcome Facebook as our long-term partner in continuing to grow and transform the digital ecosystem of India for the benefit of all Indians.”
“In the post-Corona era, I am confident of India’s economic recovery and resurgence in the shortest period of time. The partnership will surely make an important contribution to this transformation.”, he added.