Google invests billions of dollars in Indian company, Reliance Jio

Google invests billions of dollars in Indian company, Reliance Jio

Sundry Photography / Shutterstock.com

Google announced an investment of $10 billion (USD) in India this week. Now, the American company has acquired 7 percent shares of huge broadband, mobile services, and online commerce platform. Google purchased the shares of Jio in $4.5 billion (USD). Previously, Facebook purchased 9.9 percent shares of Jio in $5.7 billion this year.

The Jio platform is a part of Reliance Industries that focuses on technological production. Google said in its statement, “We will work with Jio on the manufacturing of cheaper smartphones.” Mukesh Ambani, the chairman of Reliance Industries, said that they would work with Google to design cheap entry-level Android phones.

It is unclear whether this project will be a part of Google’s Android Go project or not. Android Go is a project of Google to produce cheap smartphones. Google said that its partnership with Jio would allow more people to use smartphones. There is a huge population in India that cannot afford to use the internet and smartphones.

The investment came at a time when India wants to get rid of its dependence on Chinese companies. Last week, India implemented a ban on 59 Chinese companies including TikTok. Sundar Pichai, the CEO of Google, announced Google for India Digitization Fund during an annual event of his company in India.

Google will invest at least $10 billion in India under this fund, according to Pichai. Pichai said that the fund would ensure the availability of investments for local technological companies, partnerships, and infrastructure. Google said that it would focus on the implementation of Artificial Intelligence (AI) technology in the field of health, education, and agriculture in India. India has seen a rise in investments from huge technological companies. Apple has already announced to open the first retail store in India in 2021. Google has also been focusing on purchasing shares of Vodafone Idea, according to Financial Times.

Guest Writer

Related Posts
West side United announces investment of $500000 in West Side’s small businesses
West Side United hospitals acknowledged the legacy of Martin Luther King, Jr. as they announced
Ford is increasing jobs in Chicago based factories by investing $1 billion
Ford is planning to increase worth up to $1 billion. This adds more job opportunities
India enters in list of top 10 badly affected countries by COVID-19
India has seen a huge rise in the number of coronavirus cases in the past
OIC commission condemns new Indian law in Indian occupied Kashmir
The Permanent Human Rights Commission (IPHRC) of the Organization of Islamic Cooperation (OIC) condemned a
India: Hundreds of policemen become victim of coronavirus
India has the biggest lockdown in the world due to the coronavirus pandemic. There are
BJP member advises public not to purchase vegetables from Muslims
Suresh Tiwari, an elected candidate on the ticket of Bharatiya Janata Party (BJP) from district
Coronavirus lockdown: Indian government permits some businesses to open
A strong lockdown remained in India from March 22 to April 14. During the lockdown,
India bans entry of people coming from 30 countries amid COVID-19 threats
India has taken steps to stop the spread of coronavirus. The Indian authorities have banned
Iran condemns attack on Muslims in India
Iran has condemned the allegedly organized violence against Muslims in India. Iranian officials called it
Religious violence claims numerous lives in Delhi protests
Delhi is facing the worst religious violence seen in decades as the death toll has