Just 48 hours after its announcement on investing US$10 billion in India, Google has pumped US$4.5 billion to take a 7.73 percent stake in Jio Platforms.
Google and Jio Platforms will jointly develop an entry-level affordable smartphone optimised for the Android operating system and Play Store.
According to the Google blogpost, this effort will unlock new opportunities, further power the vibrant ecosystem of applications and push innovation to drive growth for the new Indian economy.
With the majority of people in India without access to the internet and fewer owning a smartphone, the move is aimed at bringing the internet to millions with low-cost smartphones.
Jio is increasing its focus on the development of areas such as digital services, education, healthcare, and entertainment that can support economic growth and social inclusion at a critical time India’s history.
“In partnership, we can draw on each other’s strengths. We look forward to bringing smartphone access to more Indians — and exploring the many ways we can work together to improve Indians’ lives and advance India’s digital economy,” said Google.