Mark Zuckerberg has reiterated Facebook’s commitment to empower India’s kirana stores and small merchants. “Small business are core of every economy and they need our support. India has 60 million small merchants and we aim to help them,” Mark Zuckerberg, CEO and founder, Facebook, said during RIL’s virtual AGM. JioMart and Whatsapp will work collectively for kirana and small businesses, Mukesh Ambani said later. Earlier, Facebook picked 9.99% stake in Reliance Jio and the two companies said that they will collectively build India’s small merchants and kirana stores. The deal will also help further Mukesh Ambani’s retail dream as Facebook-owned Whatsapp will play a key role in reaching out to target audience. Whatsapp has over 400 million users in India.
“Both Reliance Jio
Meanwhile, Reliance Retail is one of the biggest retail companies in India with RIL focusing heavily towards building its retail channel. With the recent Facebook-Jio deal, RIL will be able to build a better retail empire as the company looks to milk India’s budding e-commerce scenario. To rival the likes of Amazon, Snapdeal and Flipkart, Mukesh Ambani-run RIL recently launched JioMart platform which connects kirana stores to nearby shoppers for daily essentials and grocery items. “Reliance Retail is now embarking on a journey to transform traditional retail through its JioMart Digital Commerce Platform. The roadmap to this journey requires Reliance Retail to establish a complex yet robust physical and digital pan-India infrastructure,” the Mukesh Ambani-led company said in its annual results report late in June.