Search engine company Google has announced plans to acquire $1 billion in India’s telecoms giant Reliance Communications Ltd (RLC), a move that could pave the way for further investments in the country.
The announcement came after a meeting between Indian Prime Minister Narendra Modi and Google CEO Sundar Pichai.
Reliance has a 25% stake in Google.
The acquisition comes as India prepares to hold a national telecom vote on Sunday to select its new telecom regulator.
Reliances proposed merger with Bharti Airtel and Bhartia Media Networks.
The move comes after a series of deals that have seen the country’s telecom industry become increasingly dominant in recent years, including the purchase of Bhartiya Group in 2013 and Bhaskar Cellular by Vodafone India in 2016.
Google, which has a market capitalisation of more than $300 billion, is also among the world’s largest search engines.
The company is also one of the most visited websites in the world.