In the 43rd annual meeting of Reliance, Mukesh Ambani, head of Reliance Industries, has told that the world’s giant will invest in the Google Jio platform. Ambani said that Google will buy a 7.7 percent stake of the Jio platform for Rs 33,737 crore.
For the last few days, there were speculations about this. This is probably the first time both Facebook and Google have invested in the same company.
Jio and Google will make the OS
Ambani said that Google and Jio have joined hands to create operating systems for entry-level 4G and 5G smartphones. Both companies are working to make India 2G free.
Jio balance sheet extremely Strong
Ambani said that Jio is at the forefront in India. He said that Jio has become the digital lifeline of people in India. Speaking on the recent investments in the company, Ambani said that now the company is in a strong position and the balance sheet of the company is very strong with no debt. He said the company would use the additional revenue to grow its digital business after the Coronavirus.