Categories: USA

Google invests billions of dollars in Indian company, Reliance Jio

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.

Lucas Durden

Guest Writer

Recent Posts

Senate Democrats mock Biden for selling weapons to Israel

Some of President Biden's strongest Senate allies are calling on Israelis to end months of fierce fighting and criticizing the…

11 months ago

The biggest cities in Ukraine are struck by Russian missiles, leaving at least 4 dead and over 100 injured

Ukraine's KYIV — At least four people were killed and nearly 100 injured when Russian hypersonic ballistic missiles attacked Ukraine's…

11 months ago

Good News That’s Much Needed for Biden

The economy is making Americans feel a little more upbeat, especially when it comes to jobs and incomes, which could…

12 months ago

College Ventilation System Reveals Missing Man

The discovery of a decaying body inside a college ventilation system marked the tragic and unexplained end to a missing…

12 months ago

Following three Palestinian shots, a Vermont man was arrested

Following the shooting deaths of three 20-year-old Palestinian-American students in Vermont, authorities have detained a man. According to a news…

12 months ago

China is told to cease “COVID deception” due to the pneumonia outbreak by the US envoy

The United States ambassador to Japan, Rahm Emanuel, urged Chinese authorities "to abandon COVID deception" and demanded that China be…

1 year ago

This website uses cookies.