Google has announced to make an investment of 33,737 crores in Jio platforms to launch 5G supported smartphones soon.
Google has yet again decided to Invest in India and this time its’s Jio. Mukesh Ambani has announced a partnership with Google to release the all-new 5G smartphones which can be affordable. This partnership was announced during Reliance Industries Ltd (RIL) during its 43rd annual general meeting (AGM). Google will have a 7.7% stake in the Jio platform.
During this conference, the dircetor & chairman Mukesh Ambani even said, dur to this partnership and investment, Jio is now debt-free. Jio will now only accept strategic investors.
Earlier, Face book was the first company to invest in the Jio platform. Ambani even told he may partnership with Whatsapp too, in order to help India’s small businesses connect with customers.
Google CEO, Sundar Pichai even said ““Reliance Industries, and Jio Platforms in particular, deserve a good deal of credit for India’s digital transformation. The pace and scale of digital transformation in India is hugely inspiring for us and reinforces our view that building products for India first helps us build better products for users everywhere. Google is proud to invest Rs 33,737 crore into Jio. I am excited that our joint collaboration will focus on increasing access for hundreds of millions of Indians who don’t currently own a smartphone while improving the mobile experience for all,”.