Google’s investing $ 4.5 billion in Jio Platforms

Today July 15th, at the JIO AGM 2020 Meet Jio announced Google as its Strategic Partner and Strategic investor. Reliance Industries CMD Mukesh Ambani announced that Google is investing ₹33,737 crores/ $4.5 billion for 7.73% stakes in all Jio platforms.
Mukesh Ambani said that one of their main goals was to offers entry-level 4G/5G phones at a fraction of the cost and for that, they need an Operating System (OS) that would be tailor-made for India’s unique needs. That’s why Google and Jio are partnering to develop Android based Smartphone OS suitable for India’s needs.

Reliance Industries CMD Mukesh Ambani envisions to put smart devices at the hands of every Indian by accelerating the migration 350 million 2G phone users to 4G/5G smartphones so that they can also take advantage of the digital and data revolution. He plans to make India “2G Mukt”.

Watch the Full Jio AGM meet here.

Google CEO Sundar Pichai stated that Google’s mission was to provide technology to everyone. And for that reason, on July 13th Pichai announced the Google for India Digitalization Fund which is an effort to invest $10 billion/ ₹75,000 crores to accelerate the digital economy of the nation for the next 5-7 years. The $ 4.5 Billion is the first investment in all Jio platforms is the beginning, and the most significant investment would come later from the digitalization fund.

Connecting hundreds of Indians who do not smartphones, with 4G and letting them reap the benefits of the digital and data revolution, by providing affordable smartphones will contribute immensely to shape up a Digital India. Ramesh Pokhriyal Nishank, Honorable Minister of Human Resource Development, Government of India appreciated Google for helping Indian education and digitalization.

Read the full coverage here

Also Read: Jio Glass: The Indian Alternative to Google Glass | Reliance AGM 2020

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