Ambani also said that Google promised to inject $4.5 billion into the Jio platform and will cooperate with it to develop 4G/5G mobile phones.
According to the report of The Hindu website on July 13, Sandel Pishuai, CEO of American technology giant Google, said on July 13 that the company will invest 10 billion US dollars in India in the next five to seven years, focusing on promoting economic digitalization and creating products and services that India will give priority to.
Pi Chai, who is also the CEO of Google's parent company Alphabet, said at the company's annual event: "We will do this through a combination of equity investment, partnership and investment in operations, infrastructure and ecosystems. This reflects our confidence in India and the future of its digital economy. "
He said that the investment will focus on four areas of great significance to the digitalization of the economy, including enabling every Indian to obtain mother tongue information at an affordable cost, creating products and services closely related to India's unique needs, providing power for enterprises in the process of digital transformation, and using technology and artificial intelligence in social welfare fields such as health, education and agriculture.
The report pointed out that with the announcement of the news on June 5438+03, Google became the latest American technology company to invest in India. In April this year, American social networking giant Facebook acquired a 9.9% stake in India's "Gio Platform" digital service company. In June of this year, 5438+ 10, the American e-commerce giant Amazon announced that it would invest 654.38 billion US dollars to help Indian SMEs digitize in the next five years.
According to the report, in India, Google has invested in a number of start-ups directly or through Alphabet's growth fund, including Dunzo, Fender and Harry Labs. Speaking at the event, Ravi shankar Prasad, Minister of Communications and Information Industry of India, expressed the hope that Google would focus the new fund on further promoting the development of Indian start-ups.
Mukesh ambani is known as the richest man in Asia. CNN reported that while American technology companies pay attention to the Indian market, the richest man in Asia seems to position himself as a helpful gatekeeper.
Most of the technology investment in India this year, including Facebook as a whole and nearly half of Google, went to companies controlled by Indian billionaire Mukesh Ambani. Since late April, Jio Platforms, the digital subsidiary of India's Reliance Industry Group, has raised more than $20 billion from companies, venture capitalists and sovereign wealth funds, which hope to use it as a fast track for India's huge digital economy.
Jio was launched as a mobile network in 20 16, and quickly accumulated nearly 400 million users. India Reliance Industry Group has recently set foot in e-commerce, digital payment, streaming media services, and even video conferencing platforms like Zoom, and seems to be seeking to transform the company into an all-inclusive Indian ecosystem.
Silicon Valley obviously wants to join.
"It is much easier for American technology to enter the Great Wall of India created by Jio; All it has to do is pay the toll to Reliance, "said chatur Di Wei.
As one of India's largest companies run by India's richest man, Reliance has great influence in the local area and is not bound by many regulations on data storage and e-commerce, which have always been obstacles for Facebook, Google and Amazon.
Chatur Di Wei said, "No global company can do this as quickly as Reliance. Many e-commerce regulations and data localization laws in India are affected by Reliance. "
Lemley said that as the Trump administration increasingly isolates the US economy from the rest of the world, Silicon Valley will broaden its horizons, while India has matured.
Lemley said, "What I can't stand is that the innovation ability of the United States is far less than that of five years ago. As the Trump administration becomes increasingly difficult to bring the best and brightest people from all over the world to Silicon Valley, I think technology companies may be seeking a new innovation center. "