Photo: Indranil Aditya/NurPhoto via Getty Images

Google is investing $4.5 billion in India's Jio Platforms, with plans to team up on an entry-level smartphone, the tech giant announced Wednesday.

The big picture: Jio has become tech's favorite bet on India as perhaps the world's greatest digital growth market. Google is following the likes of Intel, Qualcomm and Facebook in investing in Jio, which houses India's largest wireless carrier and a range of other tech and telecom assets.

Details: The investment, which still has to be cleared by Indian regulators, would give Google a 7.7% stake in Jio, a subsidiary of Mumbai-based industrial and retail conglomerate Reliance Industries.

  • It represents the first investment from the company's Google For India Digitization Fund announced earlier this week. Google plans to invest up to $10 billion in India over the next five to seven years, focused on digitizing local businesses and using AI for "social good," among other priorities.

The bottom line: India, the world's biggest democracy with a rapidly modernizing economy, has become the hottest market for tech investors looking for an alternative to investing in authoritarian China.

Go deeper: Meet Jio, everyone's favorite Indian tech investment

Go deeper

Oct 22, 2020 - Technology

Lawyers crystal-ball the Google antitrust case

Illustration: Eniola Odetunde/Axios

The Justice Department's antitrust suit against Google is a strong, straightforward monopoly case, competition lawyers and experts tell Axios. But that doesn't mean it'll be an easy journey for the government.

The big picture: Winning any antitrust case is a heavy lift. It's even more of a challenge to pull off victory in a future-looking case that seeks to make room for potential new competition to flourish.

Updated 16 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging — Pence no longer expected to attend Barrett confirmation vote after COVID exposure.
  2. Health: 13 states set single-day case records last week
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. World: Restrictions grow across Europe.
  6. Media: Fox News president and several hosts advised to quarantine.

Supreme Court rejects request to extend Wisconsin absentee ballot deadline

Photo: Saul Loeb/AFP via Getty Images

The Supreme Court rejected in a 5-3 decision Monday Wisconsin Democrats' request to reinstate an extension of the deadline for counting absentee ballots to six days after Election Day, as long as they're postmarked by Nov. 3.

Why it matters: All ballots must now be received by 8 p.m. on Election Day in Wisconsin, a critical swing state in the presidential election.