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The search for India’s Tencent: how techno-nationalism can expand India’s global sphere of influence

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Strategy

The search for India’s Tencent: how techno-nationalism can expand India’s global sphere of influence

Jio is swimming in cash. In its latest round of fundraise, the company received USD4.5 billion in investment from Google. In a world where private technology companies are an intrinsic part of geopolitical moves, there is a position lying vacant to be India’s techno-nationalism vehicle to the world.
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17 Jul 2020 8 Mins Read 1 comments
Jio World Centre in Navi Mumbai on April 22, 2020. Getty Images
Jio World Centre in Navi Mumbai on April 22, 2020.
A few weeks ago, Harsh Goenka, chairman of RPG Enterprises, put out the following tweet. A new world order in the technology sector, with Reliance Jio playing a pivotal role in it, is an intriguing thought — except for one thing. Jio is still very much an India-focused company, raising money from global investors for a business that makes
Mubadala, the Public Investment Fund of Saudi Arabia, Silver Lake, Vista Equity Partners, General Atlantic, KKR, TPG, and L Catterton. What remains to be seen, however, is whether the financial heft, strategic partnerships, and influence translate into building an Indian tech giant. How that plays out will determine if Goenka’s idea of JAANGO will tango.
A few weeks ago, Harsh Goenka, chairman of RPG Enterprises, put out the following tweet. A new world order in the technology sector, with Reliance Jio playing a pivotal role in it, is an intriguing thought — except for one thing. Jio is still very much an India-focused company, raising money from global investors for a business that makes Mubadala, the Public Investment Fund of Saudi Arabia, Silver Lake, Vista Equity Partners, General Atlantic, KKR, TPG, and L Catterton. What remains to be seen, however, is whether the financial heft, strategic partnerships, and influence translate into building an Indian tech giant. How that plays out will determine if Goenka’s idea of JAANGO will tango.

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