What's behind Silicon Valley's big push in India?

Facebook and Google have poured billions into Reliance Jio to gain a foothold in the world's fastest-growing smartphone market

Silicon Valley has poured billions into India since the start of the year, with Facebook and Google leading the charge with investments of US$5.7 billion (S$7.9 billion) and US$4.5 billion respectively.

Chipmakers Qualcomm and Intel also struck deals in the country, along with a string of leading United States tech-focused private equity firms. All of these investments went to one company: Jio Platforms, the telecom-and-digital services arm of billionaire Mukesh Ambani's sprawling energy-to-retail conglomerate Reliance Industries, which has in four years grown into India's largest telecommunications operator, with 388 million users.

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A version of this article appeared in the print edition of The Straits Times on July 29, 2020, with the headline 'What's behind Silicon Valley's big push in India?'. Subscribe