Google to Spend $4.5 billion in India’s Jio digital Business

NEW DELHI — Google intends to spend $4.5 billion in India’s Jio Platforms Ltd, the business announced Wednesday, carrying a 7.7% stake in the electronic services firm owned by multi-billion dollar Reliance Industries.

Google CEO Sundar Pichai stated in a tweet the partnership with Jio can help join hundreds of millions of Indians who don’t have a smartphone.

Jio Platforms Limited owns India’s biggest cellular network operator Jio along with other electronic companies controlled by billionaire Mukesh Ambani’s Reliance Industries, the nation’s most highly-valued firm.

Among other endeavors, Jio and Google will construct a cheap smartphone.

Google’s statement came only days after it announced it would spend $10 billion to help accelerate India’s transition to a digital economy in the next five to seven decades.

Jio has enrolled over 400 million readers in under four decades.

Pichai said Monday that the job will concentrate on building products that are related to India’s requirements and enable companies for their so-called electronic transformation.