On Wednesday, Reliance Jio announced that Google will spend Rs 33,737 for a 7.7 percent share on Jio Platforms. Recently, Qualcomm Ventures announced an investment of Rs 730 crore for Jio platforms. The Indian telecom giant has sold its small shares to Intel for an investment of Rs 1,894.50. Now, this new investment is part of Google's India digitization fund Rs 75,000. As a result of Google's investment, the Jio platform has sold 32.94 percent stake and profited up to Rs 1,52,056 crore.
"Today, we have made a partnership and investment agreement with Google," said Mukesh Ambani, chairman and managing director of Reliance Industries, during the 43 annual general meetings (AGM). This is the subject of transaction regulatory and other customer approval. To invest, the investment is a part of Google's digitization fund that Google reported on Monday at a virtual event in India.
Jio Platforms and Google have entered into a strategic agreement to develop an Android-based operating system and bring an entry-level Android smartphone that has a Play Store. However, more information about new offers is yet to come. Google CEO Sundar Pichai, as a guest during Reliance's AGM, said, "Getting technology into the hands of more people is a big part of Google's mission to organize world information and make it universally accessible and useful. "Through this partnership with Jio platforms, you can see more effects. This partnership is an important part of Google's next chapter of investment in India."
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