Indian corporate czars back Jio-Facebook deal

Indian corporate czars have applauded Facebook’s ₹43,574-crore investment in Jio Platforms in lieu of a 9.99 per cent stake, hailing it as a strong signal of India’s economic importance post the Covid-19 crisis.

According to many business honchos, this will boost India’s digital initiatives, help the country will become the epicenter of growth and a leader in Artificial Intelligence (AI) innovation.

Mahindra Group Chairman Anand Mahindra was among the first to tweet in support of the deal.

“Jio’s deal with Facebook is good not just for the two of them. Coming as it does during the pandemic, it is a strong signal of India’s economic importance post the crisis. It strengthens hypotheses that the world will pivot to India as a new growth epicentre. Bravo Mukesh!,” tweeted Mahindra.