Indian telecom giant Reliance Jio and Facebook have teamed up to create a great app that could meet the digital demands of every Indian in activities ranging from shopping to booking movie tickets, online payments and chatting with friends or posting on social networks. social. Facebook and Reliance Jio would bring their own expertise in the field to the success of the joint venture. Facebook would leverage its user base on the WhatsApp platform, while Jio would help drive adoption through its subscriber base. Commercial due diligence for the project is underway and Morgan Stanley has been appointed as the investment banker for the transaction. However, reports suggest that discussions have been delayed due to the COVID-19 foreclosure, although the two companies have retained senior lawyers and consultants to explore all aspects of the project, including legal and legal matters. taxation. The app, if it comes to fruition, would be something like WeChat in China, where it is the go-to app for a large part of the Chinese population to manage their daily tasks. Indian consumers currently rely on a myriad of different apps for needs such as messaging, retail shopping, digital payments, and ticket booking. If Reliance Jio manages to offer all these solutions effectively under one roof, the opportunity to develop is immense. Additionally, Jio would also get B2C engagement for its consumer businesses, as well as big data on user spending patterns. The app would also open up revenue opportunities for Reliance Retail, Ajio.com, and JioMoney. This new development comes amid reports that Facebook was in talks with Reliance Jio to take a 10% stake in the telecommunications giant. Discussions were inconclusive due to India's air travel ban imposed after the March 24 lockdown.