Key Highlights Of Mukesh Ambani, Mark Zuckerberg Discussion At Fuel For India 2020

Facebook and Reliance Jio are two big names in the world of technology and innovation. During the first edition of the Facebook Fuel for India 2020 summit, chairman and managing director of Reliance Industries Limited, Mukesh Ambani and Facebook CEO, Mark Zuckerberg have had a discussion on the importance of digital connectivity to empower the masses and the tools that are needed to hold them in place.

This move comes within months of Jio's partnership with Facebook and the Digital India mission. During the conversation, Ambani added that Facebook is the face of a digitally connected India and called Zuckerberg the architect of world's digital connectivity. This comes soon after Facebook revealed that India is one of the biggest markets for its apps including Facebook, WhatsApp and Instagram.

The Reliance Jio and Facebook partnership was finalized over the summer with a foreign direct investment by the social media giant in Jio Platforms. The idea is to leverage the scale and platform advantages of WhatsApp, WhatsApp for Businesses, WhatsApp Pay and JioMart to get even more offline shopkeepers and small businesses online.

Key Takeaways

Below are some key takeaways of this conversation between Mark Zuckerberg and Mukesh Ambani. Before we see the points, we already know that Facebook is committed to India's growth and socio-economic transformation.

Mark Zuckerberg, Founder, Chairman and CEO, Facebook said, "What happens in India is important for the whole world. India's building local capabilities and tech capacity to power innovative new business models and provide the citizens access to digital financial inclusion. So, decisions that are made here shape the global discussion about how technology can drive more economic opportunity and better outcomes for people."

Helping Small Businesses Get Online

The pandemic has fueled digital acceleration and The Facebook-Boston Consulting Group 'Turn The Tide' study claims that digitally influenced purchases for key categories including consumer packaged goods, mobile phones, and apparel had increased by 15%-20% for urban consumers in just three months after pandemic. Eventually, this has led many businesses, especially small businesses to move online. In order to support this transition, Facebook reached out to 9 million small businesses across India with a local SMB Guide available in both Hindi and English.

Investment In India's digital ecosystem

Facebook is investing in India's digital ecosystem as an opportunity to create long-term impact in areas that are relevant for the country. This includes investments in Jio Platforms. It wants to further accelerate India's digital transformation and work to open up new opportunities for people and businesses around the country.

5G Revolution

During the Partnering for Digital India event, the two tech personalities discussed the 4G and 5G revolution. The RIL-Facebook partnership will make the company focus on 5G. Ambani sees India accelerates as a premier digital society. With this, India's young workforce will drive its economy and its per capita income will increase up to $5,000 from the current level. And, the 5G networks will come at the right time when video is becoming the main way of sharing content.

Mukesh Ambani is optimistic that India will grow to become one of the top three global economies within the next two decades. With its younger society, India will become a digital society in the coming years.