Speaking at the annual Google India online event, CEO Sunder Pichai has announced that Google will invest $10 billion in India over the next five to seven years through the ‘Google for India Digitization fund’.
According to sources familiar with the knowledge of the matter, the funds will be used to develop products and services for the nation and help corporations to accelerate their digital transformation journey. The investment will further strengthen Google’s presence in the second-most populated country which has over 500 million active internet users today.
Mr. Pichai said that the decision reflects the confidence that the company has in the future of India and its digital economy.
Sources cite that the fund will focus on the key four areas to scale up digital infrastructures in India. It will focus on; giving affordable access and information for every Indian in their language; build new products and services that are deeply relevant to India's unique needs; empowering local businesses to go digital; and leverage technology and AI for social good in education, health, and agriculture sectors.
The CEO also lauded Indian Prime Minister Narendra Modi's Digital India initiative which aimed at revamping the nation's digital infrastructure.
In a recent tweet, Indian PM Narendra Modi said that he and Pichai had discussed about 'leveraging the power of technology to transform the lives of Indian farmers, youngsters, and entrepreneurs.'
This is not the first time Google has made big investments in India. In 2015, Tata Trusts collaborated with Google in the launch of the Internet Saathi initiative, which is intended to help bridge the gender gap in Indian villages and deliver technology. According to the website, the campaign contributed to the awareness on the internet of around 28 million women in nearly 300,000 villages.
Source Credit - https://www.bbc.com/news/world-asia-india-53391466?intlink_from_url=https://www.bbc.com/news/world&link_location=live-reporting-story