According to Vietnam News Agency correspondent in New Delhi, Google will invest 1 billion USD in Airtel – India’s second largest multinational telecommunications company, focusing on developing low-cost smartphones and creating “use cases”. use 5G” exclusively for India. This information was released by both Google and Airtel in a recent joint announcement.
The agreement includes a $700 million investment to acquire a 1.28% ownership interest in Airtel and up to $300 million in potential multi-year commercial agreements, Airtel said in a statement. The two sides will also focus on shaping and growing the cloud ecosystem in India.
Bharti Airtel President Sunil Bharti Mittal said, “Airtel and Google share a vision of advancing the benefits of India’s digital technology through innovative products.
With our forward-looking network, digital platforms, last mile delivery, and payments ecosystem, we look forward to working closely with Google to increase the depth and breadth of the ecosystem. India’s Digital”.
For his part, Google CEO Sundar Pichai said that the company’s commercial and equity investment in Airtel is a continuation of the efforts of the Google Digitalization Fund for India to improve accessibility. Smartphones, enhanced connectivity to support new business models and assist companies in their digital transformation.
India is an important growth engine for Silicon Valley, especially after China tightened regulation of the technology sector.
Before that, Google also made many other investment deals in India. For example, in 2020, Google bought a $ 4.5 billion stake in billionaire Mukesh Ambani’s Jio Platforms or co-developed low-cost smartphones here at the call of Indian Prime Minister Narendra Modi.
Google CEO Sundar Pichai said the investment follows the company’s efforts with the India Digitization Fund to increase smartphone penetration, improve connectivity to support new business models and supporting businesses on their digital transformation journey.
Dao Vu (According to News, Vietnamnet)