Google to Invest Rs.33,737 crore in Jio Platforms for 7.73% stake
Caste census in Bihar: will it aid developmental work or fuel social divide?
Caste is a deeply rooted factor in Bihar politics. The survey for the much-talked-about caste census began in the state on January 7 and it is likely to be completed by May 31, 2023. How will it affect the state? Will it aid in developmental work as claimed by Chief Minister Nitish Kumar, or fuel further social divide in the state?
‘Kala Azar’ now confined in only 4 districts of Bihar and Jharkhand; people’s awareness key to eliminate it: Modi
Till recently, the scourge of ‘Kala Azar’ was spread in more than 50 districts across 4 states. But now this disease is confined to only 4 districts of Bihar and Jharkhand. Awareness of the people of Bihar-Jharkhand will help the government’s efforts to eliminate ‘Kala Azar’ from these four districts as well, Prime Minister Narendra Modi has said.
When will India become a developed nation? It will take at least 20 years, says Ex-RBI Governor
There have been several targets and projections for India to become a developed nation. But, when exactly, can India become a developed nation? According to the former Reserve Bank of India (RBI) Governor C Rangarajan, it will take at least two decades of sustained 8 to 9 per cent of annual GDP growth to take India into a developed nation league.
Mudra Yojana: Rs 20.43 lakh crore loan disbursed since inception in 2015
More than 37.76 crore collateral-free loans amounting to over Rs 20.43 lakh crore have been disbursed to small businesses and entrepreneurs across the country under the Pradhan Mantri Mudra Yojana (PMMY) scheme since its inception in April 2015, the government data shows.
Giriraj Singh calls for need-based skill mapping for employment and training in rural India
Union Minister of Rural Development and Panchayati Raj Giriraj Singh has called for need-based skill mapping for employment and training to India’s youth, mainly in the rural areas. The Minister urged to explore means to see how best the traditional trades can be integrated with electronic, education and training, IT & BPO and tourism and hospitality sectors to create more employment opportunities for the youth in the country.
By Team BiharConnect
Google will invest Rs.33,737 crore to buy 7.73 per cent stake in Mukesh Ambani-led Jio Platforms. The two companies signed binding agreements on Wednesday. This investment by Google values Jio Platforms at an equity value of Rs.4.36 lakh crore.
With this, the total investment from financial and strategic investors into Jio Platforms stands at Rs. 1,52,056 crore.
“Google is proud to invest Rs.33,737 crore into Jio. I am excited that our joint collaboration will focus on increasing access for hundreds of millions of Indians who don’t currently own a smartphone while improving the mobile experience for all,” said Sundar Pichai, CEO of Google and Alphabet.
The investment will build on Jio’s and Google’s existing efforts to expand the benefits of digitisation across the length and breadth of India, beyond the current 500+ million Internet users in the country, Reliance Industries Limited said in a statement.
Jio Platforms and Google have also entered into a commercial agreement to jointly develop an entry level affordable smartphone with optimizations to the Android operating system and the Play Store. “Together we are excited to rethink, from the ground up, how millions of users in India can become owners of smartphones. This effort will unlock new opportunities, further power the vibrant ecosystem of applications and push innovation to drive growth for the new Indian economy,” it added.
Commenting on the deal Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, “Google has empowered millions of Indians to access helpful information and, like Jio, is a force for change and innovation.”
“We welcome Google onboard and are excited about our partnership for what it can deliver to Indians, from universalising Internet usage to deepening the new digital economy and providing a prime mover to India’s economic growth. Together, we hope to play a strong facilitative role in the transformative journey of building a new, Digital India,” Ambani added.
Jio Platforms, a majority-owned subsidiary of Reliance Industries, is a next-generation technology platform focused on providing high-quality and affordable digital services across India, with more than 388 million subscribers. Jio Platforms has made significant investments across its digital ecosystem, powered by leading technologies spanning broadband connectivity, smart devices, cloud and edge computing, big data analytics, artificial intelligence, Internet of Things, augmented and mixed reality and blockchain.