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Google's digitisation drive

Fix legal issues to attract more investment

Topics
Google India | Reliance Jio | Facebook

Business Standard Editorial Comment 



Google has announced an India-specific war chest of $10 billion, to be invested over five to seven years. The money will fund equity investment and partnerships to “accelerate digitisation”. Google thus joins Facebook, Qualcomm, sovereign funds, and sundry venture capital and private equity firms in focusing on India’s tech sector, which has become an attractive bet. Jio Platforms, an unlisted subsidiary of Reliance Industries, has been the biggest beneficiary, picking up more than $15 billion worth of investment over the past four months. There is speculation that Google may invest $4 billion to buy into Jio, which is seen as a potential one-stop shop with Reliance leveraging its dominance of telecom to carve out market share in entertainment, retail, social media, video conferencing, instant messaging, and fintech. However, there is money pouring into many other start-ups, and into India’s second-largest telecom services provider, Airtel.

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First Published: Wed, July 15 2020. 00:56 IST

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