Mumbai: In a greater advancement, Reliance Industries to shake hands with Google who will invest Rs 33,733 crore for 7.7% stake in Jio Platforms.
Reliance Industries Chairman and MD Mukesh Ambani on Wednesday during the 43rd Annual General Meeting of the company confirmed the development.
“We are delighted to welcome @Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest INR 33,737 crores for a 7.7% stake in Jio Platforms,” Ambani said.
We are delighted to welcome @Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest INR 33,737 crores for a 7.7% stake in Jio Platforms: Mukesh Ambani at #RILAGM #NayeIndiaKaNayaJosh #Jio
— Reliance Jio (@reliancejio) July 15, 2020
“Everyone should have access to the internet. Proud to partner with @reliancejio to increase access for the hundreds of millions in India who don’t own a smartphone with our 1st investment of $4.5B from the #GoogleForIndia Digitization Fund,” tweeted Google CEO Sundar Pichai.
Everyone should have access to the internet. Proud to partner with @reliancejio to increase access for the hundreds of millions in India who don’t own a smartphone with our 1st investment of $4.5B from the #GoogleForIndia Digitization Fund.https://t.co/1fP8iBZQfm
— Sundar Pichai (@sundarpichai) July 15, 2020
In addition, Jio also revealed that the company is developing Jio TV Plus, Jio Glass, and more. The company also announced details on JioMart and Jio 5G solution.
Ambani said, “Jio has developed a complete 5G solution from scratch that will enable us to launch a world-class 5G service in India.” The telecom operator promises 100 percent home developed 5G. Trials to start soon and will be ready for field deployment by next year. Ambani also announced that Google and Jio are partnering to build an Android based smartphone operating system.
Ambani also announced Jio TV Plus at its AGM. Jio TV Plus is a content aggregator that brings Over the top (OTT) platforms, TV channels, various apps, and services together.
