Two developments highlight the need for government to sponsor consortiums to build India’s digital ecosystem: Facebook’s announcement in April to invest $5.7 billion in Reliance Jio was momentous. In a slowing economy, Reliance Industries raised an incredible $20 billion with a cascade of foreign investments combined with a rights issue.
This “consortium” makes Reliance debt-free, besides providing the capital and capacity to dominate communications in India. India’s digital ecosystem’s dependence on China and on increasing imports ...
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First Published: Thu, August 06 2020. 01:20 IST
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