PM Modi’s Atmanirbhar Bharat Taking Shape, Reliance Leads The Pack By Raising Billions
Prime Minister Narendra Modi’s clarion call for turning Covid crisis into an opportunity is rapidly taking shape for creating an Atmanirbhar Bharat.
In last few days, the nation has witnessed a flurry of investments by big multinational companies like Google and Foxcon in its market.
Today, Google picked up a 7.7 per cent stake in Reliance Jio by investing 33,737 crores investment in the telecom platform. This was the 14th mega investments in Reliance Industries’ telecom arm Jio Platforms
Reliance Group has, so far, raised Rs 1,52,056 crore, the largest investment till date in the history of capital market in India.
Cumulatively RIL has raised Rs 2.12 lakh crore if rights issue and BP’s investment are combined.
On July 14, Walmart-led Flipkart Group closed an additional $1.2 billion equity round to support continued development of its eCommerce marketplace.
The Flipkart Group includes Flipkart, PhonePe, Myntra and eKart. In 2018, Walmart Inc. had invested $16 billion for a majority stake in the group.
The group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, and PhonePe.
Flipkart has enabled millions of consumers, sellers, merchants and small businesses to be a part of India’s e-commerce revolution.
On July 13, Foxconn announced its plans to invest $1 billion to expand its factory in Tamil Nadu. The move is reportedly a part of Apple’s moves to shift iPhone production away from China.
Foxconn is a multinational electronics contract manufacturer with its headquarters in Tucheng, New Taipei City.
With this investment, Foxconn plans to add 6,000 jobs at its Sriperumbur plant in Tamil Nadu.
On July 13, Google announced a Rs 75,000 crore “Google for India Digitization” Fund.
Google plans to spend this fund for the next 5-7 years to enable affordable access and provide information for every Indian in their own language.
The money will be spent on building new products and services, which would be deeply relevant to India’s unique needs. It will also be used to empower businesses and leverage technology and AI for social good, in areas like health, education, and agriculture.
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