Google To Invest Up To $1 Billion In Airtel To Accelerate Indian's Digital Ecosystem

Alphabet Inc’s Google on Friday announced that it is investing up to $1 billion in Airtel to accelerate the growth of India’s digital ecosystem.

The deal includes $700 million to buy a 1.28% stake in India’s second-largest telecom operator, with another $300 million earmarked for potential commercial agreements. which is owned by billionaire Sunil Mittal. and is part of Google's promised $10 billion investment in the country.

Google CEO Sundar Pichai said in a statement that the deal is part of Google's promised $10 billion investment in the India Digitization Funds.

"Our commercial and equity investment in Airtel is a continuation of our Google for India Digitization Fund's efforts to increase access to smartphones."

Google and Airtel are expected to work together in expanding Airtel’s Android device lineup via "innovative affordability programs."

Airtel chairman Sunil Bharti Mittal said that it would look at "larger strategic goals" with Google around 5G network standards, cloud ecosystems and more. 

"With our future-ready network, digital platforms, last-mile distribution and payments ecosystem, we look forward to working closely with Google to increase the depth and breadth of India’s digital ecosystem."