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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