BlackRock, the global investment firm, is growing its presence in India through a partnership aimed at launching a “digital-first offering” in the country.
On July 26, BlackRock formally announced a collaborative investment project with Jio Financial Services (JFS), a subsidiary of Indian tycoon Mukesh Ambani’s Reliance Industries — India’s most valuable company.
Each company intends to invest up to $150 million in the 50:50 collaboration.
The project, dubbed “Jio BlackRock,” intends to provide “tech-enabled” access to “affordable, innovative investment solutions” to millions of Indian investors, according to the statement.
The project, dubbed “Jio BlackRock,” intends to provide “tech-enabled” access to “affordable, innovative investment solutions” to millions of Indian investors, according to the statement.
According to the statement, the partnership will leverage BlackRock’s expertise and skills in investment management, technology access, operations, scalability, and market intellectual capital.
JFS will bring insights into the local market, as well as digital infrastructure and execution capabilities.
