The annual general meeting (AGM) of Reliance Industries Ltd (RIL), India’s most valuable company, is always a spectacle, chock-full of big banner announcements. This year’s iteration, held on 15 July, had plenty of them, including the reveal of a $4.5 billion investment from Google in its subsidiary, Jio Platforms. But the medium of the meeting was as significant as the content. It took place online, with shareholders logging in through JioMeet, a video conferencing app built by the company’s telecom arm, Jio.
Jio Platforms: Jack of all trades and master of India’s digital economy
There’s a reason Microsoft, Google, Facebook, and a host of PE investors lined up to invest billions in Jio Platforms. With a finger in every online pie, the company and its digital ecosystem could change India’s online space forever
Jio Platforms is massive. It has around 20 apps spanning the length and breadth of India’s digital economy
The company sees three sectors as core to its future success—fintech, e-commerce, and content
For this to happen, though, Jio’s apps need engagement, and that hasn’t necessarily been the case for many of its apps
With Google, Facebook, and Microsoft on board, and a new strategy to breathe life into stagnant apps, Jio Platforms could redefine India’s digital economy