India to be in world's top-3 economy in next 20 years: Mukesh Ambani from Zuckerberg

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Mark Zuckerberg, Mukesh Ambani

Mukesh Ambani, Chairman of Reliance Industries, in a virtual meeting (Facebook Fuel For India 2020) with Facebook CEO Mark Zuckerberg said that India will be included in the world’s top-3 economy in the next 20 years. Mark Zuckerberg said that he had great faith in India. Explain that the number of users of Jio and WhatsApp in India is almost equal (40 crores).

What did Mark Zuckerberg say?
India is a very special and important country for us. Millions of people use our products here every day to stay connected with their friends and family. Whether it is WhatsApp or Facebook or Instagram. Apart from this, millions of small businesses of the country are using WhatsApp Business and Messenger to further their business. Zuckerberg further said that last month we launched WhatsApp Pay in India, which has become possible with the help of UPI and 140 banks. India is the first country in the world to use UPI.

What did Mukesh Ambani say?
Mukesh Ambani, thanking Facebook’s Facebook Facebook Fuel For India, said that this event will serve as fuel to take India’s development vehicle far ahead. The most powerful idea that drives India’s development is that the youth of the country work on new startups and new ideas. Youngsters are very much inspired by you, when they see that Facebook has become the face of India digitally in just 14 years. He said that Jio Mart Retail will add small shopkeepers in small towns and this will create millions of new jobs. Ambani said that Jio is also working on connecting all the schools in the country.

He said that India’s middle class, which is about 50 percent of the country’s total households, will grow at the rate of three to four percent per year. Ambani said, Tamera believes that India will be among the top three economies in the world in the next two decades. He said that more importantly, the country will become a major digital society, which will be run by the youth.

He said, ‘Our per capital income will increase from USD 1,800-2,000 to USD 5,000. Ambani said that Facebook and many other companies and entrepreneurs of the world have a golden opportunity to do business in India, be a part of this economic and social change.

Facebook bought stake in Jio

Explain that in April this year, a deal was signed between Facebook and Jio after which Facebook’s Jadhu Holding LLC got a 9.99 per cent stake in Jio Platforms. The deal between Facebook and Jio has been done for Rs 43,574 crore. While announcing the investment in April, Jio did not provide any information about Jadhu Holding LLC. Jadhu Holding LLC is a Facebook-owned company that rose in March this year. This company has not invested in any company of any country before India.