Technology market’s big name Google will invest Rs 75,000 crore in India over the next 5-7 years through a mix of equities, partnerships and operational, infrastructure and ecosystem investments says the company’s India-born Chief Executive Officer (CEO) Sundar Pichai said on Friday.
Pointers to explain about Google’s investment in India
- According to Mr Pichai, the new products and services will enable affordable access and information in Indian languages and will be relevant to India’s unique needs.
- Google will invest Rs 75,000 crore ($10 billion) in India over the next 5-7 years under the Google for India Digitisation Fund, Mr Pichai wrote in his blog, a transcript of his address on a webcast during the annual ‘Google for India’ event.
- He also said that the investments would involve the use of technology and artificial intelligence (AI) in areas such as health, education and agriculture.
- The investments will be made through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments, Mr Pichai said.
- Commenting on the fresh investments, the Google CEO said, “This is a reflection of our confidence in the future of India and its digital economy”.
- Mr Pichai highlighted upon the initiatives already undertaken by Google in India – such as rural awareness programme Internet Saathi, online payment platform Google Pay and AI-powered tutor app Read Along.
- He mentioned the digitisation of small businesses in India as “one of the most exciting success stories”. He said that more than 26 million small and medium-sized businesses in India are now discoverable on Google’s products Search and Maps.
- He said with the new investments, Google is looking forward to work along with the Prime Minister Narendra Modi-led government and India’s small businesses to realise the “shared vision for a Digital India”.
- Meanwhile, ahead of the broadcast of the Google for India event, PM Modi tweeted details of his conversation with Mr Pichai on “leveraging the power of technology to transform the lives of India’s farmers and youth”.