Google’s investment to Jio platform, a big breakthrough for India.

Jio
Mobile sim card packets for Jio Platforms Ltd., the mobile network of Reliance Industries Ltd., are displayed at a store in Mumbai, India, on Tuesday, July 14, 2020. Google is in advanced talks to buy a $4 billion stake in Jio, the digital arm of Indian billionaire Mukesh Ambani’s conglomerate, people familiar with the matter said, seeking to join rival Facebook Inc. in chasing growth in a promising internet and e-commerce market. Photographer: Dhiraj Singh/Bloomberg via Getty Images

Recently Google has announced to invest ₹33,737 crores in Jio Platforms for a 7.7% stake and also that it will work with Reliance Industries Ltd (RIL) to provide internet access to hundreds of millions of Indians, who do not have a smartphone and to improve the mobile experience for all.

Google announced its Google for India Digitisation Fund also it aims to invest ₹75,000 crores to hasten the digital economy over five to seven years. On Monday, PM Modi had also spoken to the CEO of Google Sundar Pichai and shared on Twitter saying, “I was delighted to know more about the efforts of Google in several sectors, be it in education, learning, digital India, furthering digital payments and more.”

This fund from Google will be invested through a mix of partnerships, equity investments, operational, infrastructure and ecosystem investments. It will focus on four objectives which include enabling access and information, building new products and services, empowering businesses and leveraging technology and artificial intelligence for social good.

Sundar Pichai spoke about it. He said, “Through this partnership with Jio Platforms, we see the chance to have an even greater impact either company could have alone.” He also shared his vivid memories of growing up and he said, “Growing up, I remember how the arrival of each new technology improved the lives of my family. Today, people in India no longer have to wait for technology to come to them. A whole new generation of technology is happening here first and at the same time smartphone and affordable data have made it possible for billions of Indians to go online.”

Google has been expanding rapidly in the past few years especially in terms of its market in India.