Facebook is buying a 9.99 percent stake in Jio Platforms, the Indian telecoms giant owned by India’s richest man, Mukesh Ambani.

Axar.az reports citing foreign media that Jio, a subsidiary of Reliance Industries, has conquered much of the subcontinent’s telecoms market with aggressively low prices and is working on leveraging its platforms for retail. In exchange for $5.7 billion, Facebook will gain a seat on Jio’s board and will work to integrate Jio’s customers with Facebook’s platforms, including WhatsApp.

In a statement, Facebook CEO Mark Zuckerberg wrote that the company is “committing to work together on some major projects that will open up commerce opportunities for people across India.” That will involve mashing WhatsApp with JioMart, a system that enables local businesses to sell their products online. Given WhatsApp's scale in India, it will theoretically boost economies all across the country.