India’s Reliance Jio Comes Up With A Deal With Microsoft Unveiling Broadband, Blockchain And IoT Platforms- Part 2

The Continuation From The Earlier Post

As Jio and Microsoft move forward hand in hand there is so much to be witnessed in blockchain application. Hence, we continue the discussion here to make sure you get all the info. It is here that the partnership has played a major role in encouraging the users of Jio to trust them with even more than just features phone trend. We bring more details as we are now making the application of blockchain even broader. As we introduce the deal between two major giants in the global business zone, we promise there will be even more to add to the technology shift. 

Where Is The Partnership Headed In The Future?

Jio and Microsoft according to Nadella jointly offer Azure, Microsoft 365, and Microsoft AI platforms as part of the partnership to more organizations in India bringing Azure Cognitive Services to more devices and that too in 13 Indian languages to businesses in the country. He added the solutions are set to reach as many people and organizations in India as possible with the cloud services being offered to businesses for as little as Rs 1,500 per month. As Microsoft sees massive potential in India, similar to other Silicon Valley companies, where there are tens of millions of users and businesses coming online for the first time in recent years and the cloud services were estimated to be in India generating a revenue of $ 2.4 billion up about 25% according to research firm Gartner. Therefore, including insurance giant ICICI Lombard, Microsoft has won several major clients in India in recent years.

The partnership as of now could then boost Microsoft’s footprint in India significantly posing a bigger headache for Amazon and Google where Ambani explains Reliance Retail is the nation’s largest retailer that is working on a digital stack and creating a new commerce partnership platform in India thereby reaching tens of millions of merchants, consumers and producers where the Reliance Industries comes with plans to list both of Reliance Retail and Jio publicly. 

Thereby it is here that the announcement comes weeks after the Reliance Industries have acquired a $ 42.3 million majority stake in Fynd, a Mumbai based start-up connecting brick and mortar retailers with online stores and consumers as they previously stated plans to launch a new e-commerce firm in the country. As he further notes, the company plans to expand its blockchain network across India, and without revealing the specific details Ambani said Jio is building an IoT platform that controls at least one billion of the two billion IoT devices in India. Furthermore, he sees IoT as a $ 2.8 billion revenue opportunity for Jio. 

Reliance And Fynd: What Is The Relationship Between Them? 

Reliance has thereafter acquired 87.6% stake in Fynd as the Indian conglomerate is taking the seven-year-old Mumbai based start-up connecting brick and mortar retailers with online stores as also consumers for 2.95 billion Indian rupees as stated in a brief statement. Founded in 2012, Fynd helps offline retailers sell products to consumers directly through the online store enabling them to connect with other demand channels similar to third party e-commerce platforms Amazon India and Walmart owned Flipkart. 

With more than 600 brands, which include Nike, Raymond, Global Desi, and Being Human there are around 9000 stores connected through Fynd’s platform according to the co-founder of Fynd Harsh Shah as many brands use Fynd’s products to ramp up the sales on their respective eCommerce businesses. As it offers a wider selection of items and newer inventories to consumers, Fynd works directly with brands as well as faster delivery as Shah claims. 

The Final Words 

He comments that as it comes to be true, using blockchain can deliver unprecedented security, trust, automation, and efficiency thereby to any type of transaction while using blockchain also have an opportunity thereby inventing a brand new model which comes for data privacy as Indian data especially customer data is owned and controlled through technology by the Indian people and not by corporates, which are especially global corporations. Summing up the discussion here many tech giants are pioneering to have a similar partnership as it comes to be a major challenge in the future to have such a tie-up turning into millions in the deals. We bring you just a few of the details as this is why many are closely following the heels of both Reliance and Microsoft.