Business Here's why Facebook bought stake in Reliance Jio for Rs 43,574 crore Updated : April 22, 2020 09:08 AM IST The Facebook deal is now the centrepiece of the ambitions of India’s biggest private company to cut net debt to zero by March 2021. Since its launch three years ago, Jio, led by billionaire Mukesh Ambani, has grown at a sprinter’s pace to become India’s largest telecom company. For Facebook, India has in recent years emerged as a critical market. The company has more users in India than any other country. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.