India’s fastest-growing telecom operator Reliance Jio and Facebook’s popular instant messaging app WhatsApp will together help India’s small and medium-sized businesses get back on their feet during the post-pandemic era, according to an American management consulting firm McKinsey & Company. In its recent case study titled Next-generation operating models for the next normal, McKinsey & Company gave an example of Facebook’s strategic alliance with Reliance Jio that resulted in the social media giant investing $5.7 billion in India’s telecom giant, paving the way for Indians to use WhatsApp to facilitate Jio Mart’s online grocery delivery service.
“We have also seen a trend where partnerships are formed based on a complementary understanding of customer needs, where both partners can combine knowledge to create value,” McKinsey & Company said. “Recently, a partnership between India-based Jio Platforms and Facebook’s WhatsApp redefined the way the telecommunication company could create value with the social platform—JioMart, the Jio Platforms’ small business initiative, and WhatsApp now allow customers to connect directly with businesses and purchase products through a seamless mobile experience on WhatsApp. This idea will be further expanded to connect other businesses, shops, and purchased products through WhatsApp.”
In April, Facebook announced a $5.7 billion (Rs 43,574 crore) investment in Jio Platforms. Facebook said its goal is to enable new opportunities for Indian businesses of all sizes including more than 60 million small businesses across the country.