Google to pick 7.7% stake in Jio for Rs 33,737 crore
Mumbai: Google will pick up 7.7 per cent stake in Reliance Industries’ technology venture for Rs 33,737 crore, richest Indian Mukesh Ambani said. “We are delighted to welcome Google as a strategic investor in Jio Platforms.”, he said.
Mumbai, Jul 15 (PTI):
Richest Indian Mukesh Ambani on Wednesday announced his group’s digital arm Jio developing a homegrown 5G telecom solution.
“Jio has designed and developed a complete 5G solution from scratch. It will be ready for trials as soon as 5G spectrum is available and can be ready for field deployment next year,” Ambani said at Reliance Industries’ annual general meeting.
Jio’s global-scale 4G and fibre network is powered by several core software technologies and components. “It is this capability and know-how that positions Jio on the cutting edge of another exciting frontier 5G,” he said.
Jio Platforms, with over 20 startup partners, has built world-class capabilities in technologies such as 4G, 5G, Cloud computing, Devices and OS, Big Data, AI, AR/VR, Blockchain, Natural Language Understanding and Computer Vision, he said.
“Using these technologies, we can create compelling solutions across multiple industry verticals like media, financial services, new commerce, education, healthcare, agriculture, smart cities, smart manufacturing & smart mobility,” he said, adding Jio Platforms is conceived with vision of developing original, captive intellectual property, using which we can demonstrate transformative power of technology across multiple ecosystems first in India, and then rest of world.
In the next three years, Jio will connect half a billion mobile customers, a billion smart sensors and 50 million home and business establishments, Ambani said.
“We have fully kickstarted five accelerators of growth of digital connectivity: Mobile broadband, JioFiber, Jio’s enterprise broadband, broadband for SMEs, and Jio’s Narrowband Internet-of-Things (NBIoT),” he noted.