(LiveMint)
Reliance Jio Infocomm Ltd is planning to expand beyond the Indian market, and will set up a subsidiary in Estonia, according to two people aware of the plans. Reliance Industrial Investments and Holdings Ltd, an investment holding company and a wholly-owned subsidiary of Reliance Industries Ltd (RIL), will give a loan of Rs12.20 crore (€1.5 million) to the Estonian unit to begin operations, according to one of the two people cited above, both of whom declined to be named.
“Thanks to its sophisticated e-solutions, over the last decade, Estonia has transformed itself into one of Europe’s business success stories. Indian companies would certainly wish to collaborate and imbibe e-governance solutions in this regard and Jio is no exception,” said the second person. A company established in the northern European nation can operate worldwide, while all the compliance work and agreements can be handled digitally .
