Subramanian Swamy delivers verdict on 'long term' implication of mammoth Jio-Facebook deal

BJP MP Subramanian Swamy on Friday reacting to Facebook's anuncement of investing Rs 43,575 crore in Jio Platforms for a 9.99 per cent stake said that long-term interest for India arising from behemoth deal had been missed, citing a favourable implication of Jio taking on board Facebook as a mirity shareholder. 

He added that with largest young population, social media launched in West will be "Indianised". However, Swamy did t elaborately explain about tweet. neless, BJP leader has in past as well been calling for need of an Indian social media platform. 

'We are all immersed with 'what next' in Coronavirus Pandemic'

'Jio has brought more than 388 million people online'

Facebook in a statement said investment "underscores our commitment to India and our excitement for dramatic transformation that Jio has spurred in country". "In less than four years, Jio has brought more than 388 million people online, fueling creation of invative new enterprises and connecting people in new ways. We are committed to connecting more people in India toger with Jio," it added.

Mukesh Ambani, Chairman of RIL said, "All of us at Reliance are refore humbled by opportunity to welcome Facebook as our long-term partner in continuing to grow and transform digital ecosystem of India for benefit of all Indians. synergy between Jio and Facebook will help realise Prime Minister Shri Narendra Modi’s ‘Digital India’ Mission with its two ambitious goals — ‘Ease of Living’ and ‘Ease of Doing Business’ – for every single category of Indian people without exception. In post-Corona era, I am confident of India’s ecomic recovery and resurgence in shortest period of time. partnership will surely make an important contribution to this transformation.”

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Facebook's massive user-base in India

Toger with WhatsApp and Instagram, Facebook overall is estimated to have more users in India than any or single country. number of internet users in India is projected to rise to about 850 million in 2022, according to consultancy PwC, up from 450 million in 2017. " partnership between Facebook and Jio is unprecedented in many ways. This is largest investment for a mirity stake by a techlogy company anywhere in world and largest FDI in techlogy sector in India," RIL said.

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(With PTI inputs)