The investment will help India’s SMEs adopt digital tools as India works to adopt digital education, payments, and ecommerce amid the pandemic, Google said in a blog post. It will also speed up the use of cloud-based computing for business.
As part of the ‘Google for India Digitisation Fund’ launched in 2020, Google will pay USD 700 million to acquire a 1.28% stake in Airtel. It is also committing up to USD 300 million for commercial agreements until 2027, Airtel said in a statement. The companies also plan to jointly develop software for 5G and other standards.
Airtel is an Indian global communications solutions provider with over 480 million customers in 17 countries across South Asia and Africa.
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