After Facebook acquired 9.99 percent stake in Reliance Jio for USD 5.7 billion ( Rs 43,574 Crore), Google Inc is reportedly planning to invest a whopping USD 4 billion i.e Rs 30,000 crore in Jio platforms.
Noted business news media house Bloomberg reported that Google is in advanced talks to invest about Rs 30,000 cr in Reliance jio. The report – which quoted anonymous sources – further said that the announcement could come in the next few weeks.
Mukesh Ambani’s digital arm, Jio Platforms Ltd, is emerging as the global firm. After Facebook, its rival Google too wants to join Jio in order to grow in a promising internet and e-commerce market.
According to the Bloomberg report, cloud-computing is the main reason Google is investing in Jio. The move would also support Google’s Android smartphone operating system and its mobile payments efforts in the country of 138 crore-plus population.
Earlier on Monday after meeting Prime Minister Narendra Modi, Google CEO Sundar Pichai’s announcement at the sixth annual edition of “Google for India” virtual event where he declared a digitisation fund. Sundar Pichai said Google will invest USD 10 billion in India over the next five to seven years.
This post was last modified on 15 July 2020 1:40 pm
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