On July 13, 2020, Google announced its plans to invest $10 billion in India through its Google India Digitization Fund, through the next five to seven years. This fund would be deployed through equity investments, partnerships, and operational, infrastructure & ecosystem investments. This reflects the focus to be both on B2C and B2B areas.
This announcement was almost immediately followed by Google announcing its $4.5 billion investment agreement and binding partnership with Reliance Jio Platforms. It was the first deployment of Google’s $10 billion India Digitization Fund. Jio is the largest telecom carrier & provider in India, with over 33% market share. |
