Reliance Industries announced the Rs 33,373 crore investment by technology giant Google in Jio platforms for a 7.7% stake
MUMBAI| Reliance Industries has announced the big push for 5G in India. At the Company’s Annual General Meeting (AGM) in a virtual announcement, Reliance Jio confirmed that it is working on indigenous 5G mobile networks.
Same time Reliance Jio has confirmed that it will enable a push for affordable 5G smartphones in India. This comes as Reliance Industries announced the Rs 33,373 crore investment by technology giant Google in Jio platforms for a 7.7% stake.
Google CEO Sundar Pichai also tweeted and share this news. Pichai wrote, “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.”
This development came day after Google announced a fund to accelerate India’s digital economy. Google announces Rs 75,000 crore fund. Marking its biggest commitment to a growth market, the tech giant said the fund would be used over the next five to seven years through equity investments and tie-ups.
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
Mukesh Ambani Chairman and Managing Director of Reliance Industries said, “As India is standing at the doorsteps of the 5G era, we should accelerate the migration of 350 million Indians, who currently use a 2G feature phone, to an affordable smartphone.”
Reliance Jio along with Google is working for a custom Android-based smartphone operating system which is expected to power the affordable 5G smartphones. These developments come at a time when Chinese technology company Huawei has been under the scanner in many countries, including India, for potential data privacy and security issues in their 5G equipment for mobile networks.
Jio further added they will also provide affordable 4G devices to more than 300 million feature phone users in India. JioPhone remains the most affordable 4G phone in the world.
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