Investors Bet on Mukesh Ambani's Jio And Its Giant-Killer Playbook

From its Silicon Valley-like campus near Mumbai, billionaire Mukesh Ambani's Jio telecom carrier is emerging as a winner from changes in the way consumers in the country plug into a digital economy made more urgent by the coronavirus pandemic. For shoppers who prefer to order online, it is launching a grocery ordering service with Facebook Inc's popular WhatsApp messaging. For Bollywood fans who would prefer to avoid a crowded theater, it is readying same-day-release on the Jio platform.

Those plans had been in the making for months, but the pandemic has given them a shot in the arm. The government's 10-week lockdown has also led to a surge in demand for data, boosting Jio's phone and broadband offerings.

And, over the past six weeks, the digital business of Mr Ambani's Reliance Industries, known as Jio Platforms, raised a striking $10 billion from global investors.