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Is olympic tennis event equivalent to grand slam in term of ranking points?

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Nope
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no. grandslam winners win 1000 points winning the olympic gets around 400 points.
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nope, the winner of a grand slam event gets 1000, and the gold medalist gets 400 points.-
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NOWAY

In prestige perspective Olympic is far more prestigious event...

In ranking perspective 1 can get max 1000 points(normally) in a grandslam event

& in Olympic max 1 can get 400 points........
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no
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I don't think a player's result in tennis in the Olympics has any bearing on his/her ranking points on the regular tour. So, it isn't equivalent to Grand Slam events in that regard.
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No, a Grand Slam yields more ranking points across the board.

Grand Slams

W - 1000

F -700

SF - 450

QF - 250

4th - 150

3rd - 75

2nd - 35

1st - 5

Olympics

Gold Medal - 400

Silver Medal - 280

Bronze Medal - 205

Loser 3rd/4th - 155

Quarterfinals - 100

Round of 16 - 50

Round of 32 - 25

1st Round - 5
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No. But they earn points, and the prestige.
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