While India pivots toward the internet, the two have struck an equity deal that has such vast potential for data-based value creation that each move of theirs will be watched keenly Data is the new oil, Reliance Industries Ltd (RIL) Chairman Mukesh Ambani had remarked a little over a year ago.
If that remark captured how he saw the future of value creation, its irony was enriched by an equity deal struck by RIL’s telecom-and-data subsidiary Jio Platforms with Facebook Inc.
just a day after crude oil fell below zero in the US, a direct fallout of the world’s covid crisis. Physical mobility has been arrested by the pandemic, while data zips furiously around the globe.