Two of the biggest names in the business world. Two of the biggest names in the world of technology. Two of the biggest names in the world when it comes to innovation. At the first edition of the Facebook Fuel For India 2020 Summit, Mukesh Ambani, President and CEO of Reliance Industries Limited and Mark Zuckerberg, CEO and Founder of Facebook, had a conversation that only leaders can have. The two business leaders spoke about the importance of digital connectivity as a means of empowering the masses, how small businesses get a much-needed boost with the right technology and tools, Jio’s partnership with Facebook, as well as the India mission. Digital India and business travel.
Ambani said that Facebook has become the face of a digitally connected India and called Zuckerberg the true architect of digital connectivity for the world. This comes at a time when Facebook has, as Zuckerberg said, some of the largest user bases in India on its apps, including Facebook, Instagram, and WhatsApp. Something that would please cricket fans in India, Facebook will power the India tour by Australia test matches on the Facebook Watch platform. Facebook Watch is available on the web as well as on smart TVs and is free to download. This is the first time that Facebook has launched a major sports content launch in India for Facebook Watch, a platform that already has the rights to the Spanish Soccer League.
Facebook’s focus on small businesses received an added boost when Zuckerberg said it’s important to give citizens access to tools – for communication, finance, social commerce, and education, to name a few. He said millions of small businesses value Facebook tools and these businesses will be a key part of the global recovery in the post-COVID era. “At Facebook, we are in the business of serving small businesses. And nowhere is this more true than in India. With more than 60 million small businesses and millions of people across the country who depend on them for employment, these small businesses form a large part of what our partnership with Jio can serve here. This is especially important because small businesses in India will be a key part of the global economic recovery in the future. And we’re focused on making sure we build the best tools for them, ”said Zuckerberg.
Ambani agreed with the idea and said that a crisis is too precious to waste, it presents an opportunity for new growth. He praised the government’s efforts and said that Prime Minister Narendra Modi has led India from the front in the battle against COVID and that while India is not as rich as some Western countries, it has taken steps to protect the vulnerable. He said that Reliance is in the textile business and that in a matter of months they produced over 100,000 PPE and now we are also exporters of PPE. Until then, India was highly dependent on imports of PPE.
The partnership between Reliance Jio and Facebook was finalized over the summer with a foreign direct investment from the social media giant in Jio Platforms. The idea is to take advantage of the scale and platform of WhatsApp, WhatsApp for Business, WhatsApp Pay and JioMart to get even more offline merchants and small businesses online. “I strongly believe that technology, with all the steps that India has taken, will democratize the creation of wealth and value for individuals and small businesses. Through our partnership (Jio Platforms and Facebook), we will become a value creation platform for our clients and small businesses, giving them the opportunity to digitize and be on par with anyone else in the world, ”said Ambani. “It is accelerating the shift of many companies from physical stores to digital stores,” Zuckerberg added.
Mukesh Ambani is confident that India will grow to become one of the world’s top three economies in the next two decades, and says that India, with its younger society, will become a digital society in the coming years.
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