Google To Invest $10 Bn In India Over Next 5-7 Years: Sundar Pichai
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Google on Monday announced that it will invest $10 billion (INR 75,000 crore) in India in the next five to seven years through ‘Google for India Digitisation Fund’. The fund will further deepen its presence in the second-most populated country.
The tech giant will invest in India through a mix of equity investments, partnerships and operational, infrastructure and ecosystem investments.
In a blog post, Sundar Pichai, chief executive officer, Google and Alphabet, said the investment is a reflection of Google’s confidence in the future of India and its digital economy.
The said investments will focus on four important areas to India’s digitisation. First, enabling affordable access and information to every Indian in their own language, whether it’s Hindi, Tamil, Punjabi or any other. Second, building new products and services that are deeply relevant to India’s unique needs. Third, empowering businesses as they continue or embark on their digital transformation. And fourth, leveraging technology and artificial intelligence for social good, in areas such as health, education, and agriculture.
“There’s no question we are facing a difficult moment today, in India and around the world. The dual challenges to our health and to our economies have forced us to rethink how we work and how we live. But times of challenge can lead to incredible moments of innovation,” Pichai added.
Currently, India has over 500 million active Internet users, said Google India's country head and vice-president, Sanjay Gupta. Speaking at the 'Google for India' event, he added over 450 million users were accessing the Internet on smartphones.
Pichai said low-cost smartphones, affordable data and "world-class telecom structure" paved the way for new opportunities and digitisation in India.
“Our goal is to ensure India not only benefits from the next wave of innovation, but leads it. Working together we can ensure that our best days are still ahead,” Pichai concluded.