One of the major headlines across India is the deal between Reliance Jio and Facebook to enhance small scale businesses in India. The news became the talk of the town after Facebook bought a 9.99% stake in Reliance Jio for an estimated value of Rs 43574 crores ($5.7 bn). Moreover, JioMart is set to tie up with Whatsapp for a commercial pact. Now, what does it mean to the app development industry? How does it change the on-demand app market? Is this the new force to rule the Indian market? Does this deal lead to the development of a multi-services app? Come on, let’s find out the answers to these questions in this blog.
What does this mean to the app development industry?
Let’s jot down certain key facts before arriving at a conclusion.
With over 500 million Indian users, Whatsapp has a strong base in India.
JioMart, a recently launched application, is set to encourage online services in India.
Mukesh Ambani, the RIL chairman, has stated that JioMart would help almost three crores small Kirana shops to transact digitally.
Jio has a subscriber base of over 350 million in India.
Facebook is trying to launch ‘WhatsApp Pay’ in India to encourage digital modes of payments.
“The country is in the middle of possible digital transformation,” states Mark Zuckerberg, founder of Facebook.
India is home to over 60 million small scale businesses, and millions of people rely on these businesses.
All these facts are strongly suggesting a paradigm shift towards India’s digitalization. The deal could possibly mean Jiomart and WhatsApp are said to revolutionize the Indian market. The deal could pave the way for new employment opportunities, as well. By integrating small Kiranas, users can get faster delivery from nearby shops.
Is this the new force to rule the Indian market?
The Indian market is so vast that it is explored only a little by the present-day competitors. Let’s visualize the vast unexplored Indian market here,
The Micro, Small, and Medium Enterprises (MSME) in India stand at over 60 million.
India has almost 120 million farmers doing cultivation.
In addition, India also houses 30 million unaccounted small and medium scale merchants.
The electronics market in India is expected to grow at a CAGR of 41% between 2017 and 2020.
The market is set to generate a revenue of $400 billion.
By 2022, almost 822 million Indians will have access to smartphones.
With such a huge market, the Jio-Facebook deal will definitely capitalize on this unexplored market. Jio’s subscribers base, coupled with Whatsapp and Facebook, can propel the app forward, paving the way to a new dominant force of the Indian market.
The Indian market is expected to flourish where more people will incline towards online marketplaces.
Does this deal lead to the development of a multi-services app?
The deal is identified similarly to what WeChat did in China. In case you are wondering what WeChat is, let’s take a look at WeChat.
WeChat is a Chinese Super app that provides multiple services to its users. The idea of Super App, where people can access multiple services under one roof, has attracted a lot of users towards the app. Just so you know, WeChat now has more than 1 billion active users.
Now, the Jio-Facebook deal could lead India towards the multi-services path. JioMart is connecting various small scale businesses across India. Payments can be made by users via the Whatsapp UPI payment gateway to be introduced by Facebook. Moreover, advertising across Facebook and Instagram can attract vast numbers of users towards the app. A deal of this magnitude can only mean that the market is set to boom exponentially for years to come. Moreover, India is already reacting well to popular on-demand services, including,
Food delivery services – Swiggy, Zomato, etc.
Ride-hailing services – Uber, Ola, etc.
Grocery delivery services – BigBasket, Grofers, etc.
Healthcare app services- Practo, ZocDoc, etc.
‘What if an app brings all these services under one common roof?’ – This idea could have led to the deal, as well.
Can anyone develop a multi-services app like Gojek?
The answer to this question is a big YES. Any entrepreneur can develop a multi-services app like Gojek. In fact, we can provide a Gojek Clone app to launch instantly in the market. With our Gojek Clone app, you can provide more than 50 services with a single app. Moreover, the app is 100% customizable according to your needs. What else do you need to capitalize on this growing market?
The deal between Reliance and Facebook has opened doors to various entrepreneurs to explore the market. Digitalization can progress India forward in terms of Economy. JioMart can turn into a multi-services market offering multiple services under one roof. With Whatsapp and Facebook to aid, this new force will capitalize on unexplored Indian markets for years to come. You can, too, venture into the market with a Gojek Clone app. What are you waiting for? Connect with us to get started now.
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Is this legal?
PicMix and PicYou are almost exact clones of Instagram. MyCityDeal and Wimdu are clones of Groupon and AirBnB respectively. The only thing companies can patent is methodology for achieving an action or leading to an end point. If you can figure out another way to do that, without infringing on other's IP, you totally can. We could, so we did.
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