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Google To Invest $4.5 Billion In India's Jio Platforms - Quick Facts

Search giant Google, Inc. announced Wednesday that it signed an agreement to invest $4.5 billion or 33,737 crore Indian rupees in India's Jio Platforms Ltd, taking a 7.73 percent stake in the company, pending regulatory review in India. This investment by Google values Jio Platforms at an equity value of 4.36 lakh crore rupees.

Google and Jio Platforms have entered into a commercial agreement to jointly develop an entry-level affordable smartphone with optimizations to the Android operating system and the Play Store. This will help millions of users in India to become owners of smartphones and unlock new opportunities.

This is the first investment made by Google in India as part of the $10 billion Google For India Digitization Fund announced earlier in the week to accelerate India's digital economy over the next five to seven years through equity investments, partnerships, and operational, infrastructure and ecosystem investments.

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