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Current Affairs

Google invests $1 billion in Airtel

Date: 31 January 2022 Tags: Miscellaneous

Issue

Technology major Google will be investing $1 billion in partnership with Indian telecom company Airtel.

 

Details

Out of $1 billion, about $700 million will be used to buy 1.28 per cent equity stake in the company and $300 million will be used for multi-year commercial agreements.

 

The deal

The investment will be part of Google for India Digitization Fund. It will include equity investment as well as a corpus for potential commercial agreements.

 

The commercial agreement

  • Airtel and Google will work together to build on Airtel’s extensive offerings to cover a range of Android-enabled devices to consumers via innovative affordability programmes. 

  • They will work together to remove barriers of owning a smartphone across a range of price points, in partnership with various device manufacturers. 

 

Work on 5G technology

  • Airtel will deploy Google’s network virtualisation solutions to give a better experience to their customers. It is already using Google’s 5G-ready Evolved Packet Core & Software Defined Network platforms.

  • Both the companies will collaborate to potentially co-create India-specific network domain use cases for 5G and other standards.

  • Airtel and Google will also focus on shaping and growing cutting-edge cloud ecosystem in India.

 

Google investments in India

Earlier, Google has invested $4.5 billion in Reliance Jio. In addition, through its accelerator programme, it has invested in many startups.