Google invests $4.5 billion in India's Reliance Jio Platform.

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Jio Android Apps Apk
Google  has become the latest high-profile firm to back India’s Reliance Jio  Platforms. The search giant is investing $4.5 billion for a 7.73% stake in the top Indian telecom network, Reliance Industries chairman Mukesh Ambani said on Wednesday.

The Alphabet-owned search engine has agreed to pay $4.5bn (£3.6bn) for a 7.7% stake in Jio Platforms.Reliance's billionaire owner Mukesh Ambani says the two companies will develop phones for 4G and 5G networks.Google joins a list of new investors in Jio that includes Facebook, Intel and Qualcomm."Google has empowered millions of Indians to access helpful information and, like Jio, is a force for change and innovation," Mr Ambani said in a statement to shareholders.

For Google, this is the “first and biggest investment” from the recently announced $10-billion India fund, CEO Sundar Pichai said. The two companies will jointly develop an operating system for an entry-level smartphone that will support 5G and target India’s 350 million feature-phone users.

The next set of investors is likely to be in RIL’s retail business. “We have received strong interest from strategic and financial investors. We will induct global partners and investors in Reliance ..

Earlier this week Google also said the company would invest about $10bn in India over the next five to seven years.In April Facebook said it would invest $5.7bn for a 9.99% stake in Jio, making it the cut-price Indian mobile internet provider's largest minority shareholder.The investment arms of US technology giants Intel and Qualcomm have also bought smaller smaller stakes in the company.

Google, which like Facebook reaches nearly every online user in India, announced a new fund on Monday through which it said it plans to invest $10 billion in Asia’s third largest economy over the next five to seven years. Its investment in Jio Platforms today is the first investment from the Google For India Digitization Fund.

Jio Platforms also operates a range of digital services, including a music streaming player and a video conferencing app. On Wednesday, Jio Platforms unveiled its newest offering: the Jio Glass.

Jio Platforms executives said Jio Glass wearers will be able to perform video calls and access more than two dozen apps. They did not disclose when Jio Platforms plans to make this new gadget available to consumers and what it would cost. Jio Platforms has unveiled devices in the past that sometimes take years to reach consumers — and sometimes they are quietly abandoned. Jio unveiled a similar pair of spectacles last year.

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