CURRENT AFFAIRS

Detailed explanation-1: -Internet giant Google will invest up to $1 billion in Bharti Airtel, India’s second-largest service provider, by acquiring 1.28% of Airtel’s equity and in other commercial agreements on mutual terms over the next five years.

Detailed explanation-2: -As Google, we will invest more in India and from India to the rest of the world as well. Will we see your products being built out of India at some point? We are at an early stage but having some success.

Detailed explanation-3: -It has invested $4.5 billion in Reliance Industries’ Jio Platforms and led an investment of $145 million in InMobi’s Glance, which also owns a short-video platform, Roposo.

Detailed explanation-4: -What is in it for Airtel? The funds invested by Google will help Airtel to develop a variety of consumer electronics. The electronics will be across different prices to make them affordable for the users. The funding will further give more resources to the company to boost its 5G plan.

Detailed explanation-5: -In 2010, Warid Telecom sold a majority 70.90% stake in the company to Bharti Airtel for US$300 million.