Google has announced that it will be investing Rs 75,000 crore or approx. $10 billion in India. The company, during the Google For India 2020 virtual event, revealed this information.
Sundar Pichai, CEO of Google and Alphabet, the company will make investments in India with the new Google For India Digitization Fund initiative. The company has said that it will invest the money over the next 5 to 7 years. This will be done via a mix of equity investments, partnerships and operational, infrastructure and ecosystem investments.
“Today, I’m excited to announce the Google for India Digitization Fund. Through this effort, we will invest ₹75,000 crore, or approximately $10 billion, into India over the next 5-7 years. We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments. This is a reflection of our confidence in the future of India and its digital economy,” Pichai said.
He further added that investments will focus on four key areas. First, it will enable affordable access and information for every Indian in their own language including Hindi, Tamil, Punjabi or any other. Second, the investments will be focused on building new products and services that are relevant to India’s needs. Third, it will empower businesses for their digital transformation. Fourth, the investments will focus on leveraging technology and AI for social good, in areas like health, education, and agriculture.
“As we make these investments, we look forward to working alongside Prime Minister Modi and the Indian government, as well as Indian businesses of all sizes to realize our shared vision for a Digital India,” he added.