Jio Financial Services, part of India's Reliance Industries, has partnered with U.S.-based BlackRock Inc to establish a joint venture focused on wealth management and broking in India. This strategic alliance aims to leverage Jio's extensive customer base and BlackRock's expertise in asset management to offer enhanced financial services in the Indian market. The announcement indicates a significant move into the financial sector by billionaire Mukesh Ambani's company, aligning with the world's largest asset manager, with Ambani potentially at the helm.