Mukesh Ambani thanks avalanche in India with Reliance Jio investment

At the inaugural Facebook Fuel for India 2020 event, Ambani credited Facebook for starting the "FDI avalanche" in India in the middle of a pandemic with its $5.7 bn investment in Reliance Jio in April 2020.

This has made Facebook is the largest minority shareholder in Reliance's $65 bn digital arm. This has also led to a series of continuous funding in Jio, with leading strategic and equity investors pouring in over $20 bn.

"Facebook and Jio closed its partnership in the middle of a lockdown. Your investment set the ball rolling not only for Jio but also for Indian FDI, which is the largest in history. Thank you for your faith in India." said Ambani in the virtual session.

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