SEBI unlocks Mukesh Ambani’s next big play: Jio BlackRock set to upend India’s money game
Announced in July 2023, Jio BlackRock is a 50:50 partnership between Ambani’s financial services arm and BlackRock, the world’s largest asset manager.
- Jul 16, 2025,
- Updated Jul 16, 2025 11:24 AM IST
India’s market regulator has just cleared the launch of four new passive funds — and with that, Mukesh Ambani’s most audacious play in financial services is officially underway.
Jio BlackRock, the joint venture between Jio Financial Services and global asset giant BlackRock, now holds regulatory approval to disrupt India’s ₹72 lakh crore mutual fund industry from the ground up.
The green light from the Securities and Exchange Board of India (SEBI), revealed Wednesday as per a Reuters report, gives Jio BlackRock the final go-ahead to launch its first suite of investment products — four passive funds aimed directly at India’s mass-market investors.
It’s the latest milestone in a venture that may reshape the way Indians save, invest, and manage wealth.
Announced in July 2023, Jio BlackRock is a 50:50 partnership between Ambani’s financial services arm and BlackRock, the world’s largest asset manager. Each side committed $150 million to start — a $300 million wager to democratize investing in a country where formal participation in markets remains limited to a fraction of the population.
Disruption by design
At the heart of the strategy is accessibility. Minimum investment? ₹500. Distribution? Fully digital through Jio’s existing ecosystem — MyJio and Jio Finance apps. No traditional distributors, no middlemen. The target audience: 475 million Jio telecom subscribers and 8 million active financial services users, including India’s underpenetrated Tier 2 and Tier 3 markets.
A price war on the horizon
Jio BlackRock is poised to undercut the competition. Expense ratios for its passive funds could go as low as 0.05% — a level that would force legacy players to slash their own fees or risk irrelevance. By combining Jio’s scale with BlackRock’s technology, the venture is ready to squeeze inefficiencies out of the mutual fund value chain.
That technology edge includes Aladdin, BlackRock’s flagship investment and risk management platform, typically used by top-tier institutional investors. Now, for the first time, it will power portfolios for the Indian retail market.
Jio BlackRock’s ambitions extend well beyond mutual funds. The company plans to roll out wealth management, broking, and advisory services — all bundled into an all-in-one financial super-app. With three debt funds already launched and a dozen more products expected by year-end, the momentum is building fast.
India’s market regulator has just cleared the launch of four new passive funds — and with that, Mukesh Ambani’s most audacious play in financial services is officially underway.
Jio BlackRock, the joint venture between Jio Financial Services and global asset giant BlackRock, now holds regulatory approval to disrupt India’s ₹72 lakh crore mutual fund industry from the ground up.
The green light from the Securities and Exchange Board of India (SEBI), revealed Wednesday as per a Reuters report, gives Jio BlackRock the final go-ahead to launch its first suite of investment products — four passive funds aimed directly at India’s mass-market investors.
It’s the latest milestone in a venture that may reshape the way Indians save, invest, and manage wealth.
Announced in July 2023, Jio BlackRock is a 50:50 partnership between Ambani’s financial services arm and BlackRock, the world’s largest asset manager. Each side committed $150 million to start — a $300 million wager to democratize investing in a country where formal participation in markets remains limited to a fraction of the population.
Disruption by design
At the heart of the strategy is accessibility. Minimum investment? ₹500. Distribution? Fully digital through Jio’s existing ecosystem — MyJio and Jio Finance apps. No traditional distributors, no middlemen. The target audience: 475 million Jio telecom subscribers and 8 million active financial services users, including India’s underpenetrated Tier 2 and Tier 3 markets.
A price war on the horizon
Jio BlackRock is poised to undercut the competition. Expense ratios for its passive funds could go as low as 0.05% — a level that would force legacy players to slash their own fees or risk irrelevance. By combining Jio’s scale with BlackRock’s technology, the venture is ready to squeeze inefficiencies out of the mutual fund value chain.
That technology edge includes Aladdin, BlackRock’s flagship investment and risk management platform, typically used by top-tier institutional investors. Now, for the first time, it will power portfolios for the Indian retail market.
Jio BlackRock’s ambitions extend well beyond mutual funds. The company plans to roll out wealth management, broking, and advisory services — all bundled into an all-in-one financial super-app. With three debt funds already launched and a dozen more products expected by year-end, the momentum is building fast.