The investment will focus on four areas important to India’s digitisation– first enabling affordable access to information to every Indian in their own language.
Google for India event had garnered massive interest among technology enthusiasts, as it was touted to be presided by Sundar Pichai, CEO, Google & Alphabet Inc. Expectedly, Pichai made the huge announcement that the company will be investing $10 billion (approx. Rs 75,000 crore) for Digitisation India over the next five to seven 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. 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,” Pichai said.
Google’s investment focuses on the following four areas of Digitisation India:
Enable affordable access and information to every Indian in their own language, whether it’s Hindi, Tamil, Punjabi or any other.
Build new products and services that are deeply relevant to India’s unique needs. Empower businesses as they continue or embark on their digital transformation.
Leverage technology and Artificial Intelligence (AI) for social good, in areas like health, education, and agriculture. It can be noted that Google via growth equity investment fund CapitalG is supporting popular Dunzo, a 24×7 product delivery service in India.
With the massive $10 billion funds, Google will be able to help more start-ups related to fintech, AI, health, agriculture, education, and other sectors in India.
“There’s no question we are facing a diicult 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.
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 said about the Covid-19 situation.