Google has pledged $10 billion in Asian country (India) over 5 to 7 years in the future. The aim is to consolidate its position within the digital scheme of the world’s fifth-largest economy that’s rising as a battlefield for international net giants.
Google in advanced talks with Jio Platforms!
Google is reportedly in advanced talks to buy a stake in the Reliance Industries Ltd’s digital arm and the announcement could come in as early as the next few weeks. The swirl of deals for Jio have backed Ambani’s aspiration to transform Reliance from an energy company to an e-commerce giant.
Google has pledged $10 billion in India over successive 5 to 7 years with the aim of consolidating its position within the digital system of the world’s fifth-largest economy that’s rising as a parcel for international web giants.
The firm’s outlay for India — nearly double the $5.7 billion investment created by rival Facebook within the digital platform of India’s largest conglomerate Reliance Industries in Apr. It is going to be deployed through a combination of investments and partnerships, Pichai said.
Google would be part of Facebook INC. and a slew of personal equity companies piling into Ambani’s technology venture, that has already attracted over $15 billion of investments in barely a couple of months. An arm of Qualcomm INC. is the newest in Jio’s growing list of high-profile investors, who conjointly embrace Silver Lake Partners and Mubadala Investment Co.
“Qualcomm Ventures’ investment will translate into 0.15 per cent equity stake in Jio Platforms on a fully diluted basis,” the company said in a statement.
Sundar Pichai on Technology!
Sundar Pichai, who was born in India and is now chief executive officer of parent Alphabet Inc., said the breakout of the coronavirus has drawn a picture of how important and valuable technology is for conducting business and for connecting with friends and family.
Google in advanced talks with Jio Platforms! That is surely a great great news for India.