As per the telecom regulator's directions, 'Bill and Keep' regime is being implemented in the country from January 1, 2021, thereby ending IUC charges for all domestic voice calls
The deal follows Facebook picking up a 9.99 per cent stake in the firm, housing India's youngest but largest telecom company, on April 22 for Rs 43,574 crore.
The deal is a win-win situation for both Facebook and Reliance and a big win for fulfilling PM Narendra Modi’s vision of digital payment adoption, writes Vinod Dham.
Reliance in a statement said the investment by Facebook values Jio Platforms at Rs 4.62 lakh crore pre-money enterprise value (USD 65.95 billion, assuming a conversion rate of Rs 70 to a US dollar).
With its data revolution,Reliance managed a strong Internet data user base in India, fulfilling Google's dream of adding next billion users to Internet.
Mobile data charges in India are by far the cheapest in the world even as the demand for mobile data services continue to grow rapidly, the company said.