With several number of investements in Reliance JIO. Mukesh Ambani has now become the Top 6 Richest Person in the World. Now Google is in talk with Reliance to buy stake in it.
The investment news can come in the next few weeks. RIL has already attracted more than $15 billion of investments within few months.
The search giant’s boss Sundar Pichai, in an interview to ET earlier, had neither denied nor confirmed reports of Google’s interest in Jio.
Google has pledged $10 billion in India over subsequent five to seven years with the aim of consolidating its position within the digital ecosystem of the world’s fifth-largest economy that’s emerging as a battleground for global internet giants. The firm’s outlay for India — nearly double the $5.7 billion investment made by rival Facebook within the digital platform of India’s largest conglomerate Reliance Industries in April — are going to be deployed through a mixture of investments and partnerships
The flurry of deals for Jio have backed Ambani’s ambition to morph Reliance from an energy company to an e-commerce giant.
Jio is at the middle of Ambani’s drive to make a homegrown version of Alibaba Group Holding Ltd. The tie-up with Facebook has given the venture a Silicon Valley stamp of approval and has lured a dozen investors, enthused by the unit’s potential to shake up online retail, content streaming, digital payments, education and health care during a market of 1.3 billion people.
Facebook, which paid $5.7 billion for about 10% of Jio Platforms, has said it expects the traffic jam will make WhatsApp the first way many India’s small businesses connect with customers. The messaging app has roughly 400 million users within the country, about an equivalent as Reliance Jio Infocomm Ltd.’s subscriber base for wireless services.