Google To Invest 10 Billion Dollars In India says CEO Sunder Pichai
The fund would be used over the next five to seven years through equity investments and tie-ups.
Google CEO Sundar Pichai announced a Rs 75,000 crore Google for India Digitization Fund at #GoogleForIndia virtual event. The fund will be invested in India over the span of 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,” said Pichai.
The fund will enable affordable access to information for every Indian in their own language, whether it’s Hindi, Tamil, Punjabi or any other language. It will help in building new products and services that are deeply relevant to India’s unique needs.
Union Minister Ravi Shankar Prasad welcomed Google India announcement and said, “India’s app economy is growing very powerfully and it is important not just to download but to upload apps as well. We are working towards developing one lakh digital villages across India and I would appreciate it if Google could pick a cluster of these villages and make them model villages in terms of skilling and delivery of telemedicine.”
The fund will also empower businesses as they continue to embark on their digital transformation journeys and help in 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 Narendra Modi and the Indian government, as well as Indian businesses of all sizes to realize our shared vision for a Digital India. 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. 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 added.
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