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

Flash Floods Slam Northeast as Storms Trigger Emergencies

Flash flooding swept across parts of the Northeast on Monday evening, as a slow-moving weather front delivered heavy thunderstorms and…

56 mins ago

Chicago Fire Falls 2–1 to San Diego in First-Ever Matchup

Chicago Fire FC endured a narrow 2–1 defeat to San Diego FC on Saturday evening at Soldier Field, despite a…

7 hours ago

Grand Canyon Lodge Destroyed in Wildfire

An aggressive wildfire at Grand Canyon National Park’s North Rim has destroyed the historic Grand Canyon Lodge along with up…

9 hours ago

Floodwaters Rise Again Across Central Texas

Heavy Rain Triggers Second Major Flood Emergency in Central Texas A fresh round of torrential rainfall has triggered widespread flooding…

1 day ago

TSA Ends Shoe Removal Rule at U.S. Airports

For the first time in nearly two decades, air travelers in the United States can keep their shoes on during…

1 day ago

Twins Aim for Sweep Against Cubs in Series Finale

The Minnesota Twins will attempt to complete a three-game sweep of the Chicago Cubs on Thursday afternoon, wrapping up the…

4 days ago