Developing 5G tech; Google to invest Rs 33,737 cr for stake in Jio: Ambani

In the next three years, Jio will connect half a billion mobile customers, a billion smart sensors and 50 million home and business establishments, Ambani said.

Richest Indian Mukesh Ambani on Wednesday announced his group's digital arm Jio developing a homegrown 5G telecom solution. Ambani also welcomed Google as a strategic investor in Jio Platforms. " We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," he said.

"Jio has designed and developed a complete 5G solution from scratch. It will be ready for trials as soon as 5G spectrum is available and can be ready for field deployment next year," Ambani said at Reliance Industries' annual general meeting.