BlackRock and Jio Financial Services to form Jio BlackRock.

BlackRock, an American multinational investment company, and Jio Financial Services, a financial services provider, agreed to form Jio BlackRock, a joint venture, to deliver tech-enabled access to affordable, innovative investment solutions for millions of investors in India. Financial terms were not disclosed. “India represents an enormously important opportunity. The convergence of rising affluence, favourable demographics, and digital transformation across industries is reshaping the market in incredible ways. We are very excited to be partnering with JFS to revolutionise India’s asset management industry and transform financial futures. Jio BlackRock will place the combined strength and scale of both of our companies in the hands of millions of investors in India,” Rachel Lord, BlackRock Chair & Head of APAC.