Carlyle is considering investments across the retail space in India comprising both online and offline retail firms.
Mukesh Ambani’s announcement that his Jio Platforms has developed in-house a 5G solution, his deal with Google to develop a new OS to power affordable smartphones, his JioMeet answer to the Zoom meeting app and several other initiatives promises to place India at the centre of global high technology innovation and offer the Axis of Democracies a new sourcing point for these products.
The investment will help Jio Platforms in its initiative to roll out advanced 5G infrastructure and services for Indian customers.
With the addition of PIF's investment, Jio has established partnerships with a marquee set of global investors, who will contribute to establishing the Digital Society vision for India.
In case the deal gets finalised, Jio Platforms would be diluting 25 per cent of its equity.
The Indian tech environment is fast evolving to compete on the global stage and collaborate with various global players.