Today, at the sixth edition of Google for India, Sundar Pichai, Google and Alphabet CEO, announced the Google for India Digitization Fund, a commitment of Rs. 75,000 crores (~ US$10 billion) towards digitizing the Indian economy, marking the company’s renewed commitment towards its continuing initiatives in India. The Fund, to be funded in the country over the next five to seven years, will be disposed to accelerate Google’s efforts through a mix of equity investments, partnerships, operations, foundation and ecosystem investments.
Google Announces $10 Billion Dollar Investment Into India
- Facilitating affordable passage to the internet and to information for every Indian in their own language.
- Producing new products and services which would be deeply relevant to India’s unique needs
- Empowering enterprises especially small and medium businesses on their way to digital transformation
- Leveraging technology and AI for universal good, including digital education, outbreak forecasts, and support for rural prosperity.
“It’s been incredible to see the rapid pace of change unfolding over my past few visits in India. From the excitement of young people using the latest apps and services, to the ways people are using smartphones to improve lives in rural villages. Google’s efforts in India have deepened our understanding of how technology can be helpful to different types of people. Building products for India first, has helped us build better products for users everywhere. But India’s own digital journey is far from complete. There’s still more work to do in order to make the internet affordable and useful for a billion Indians. From improving voice input and computing for all of India’s languages to inspiring and supporting a whole new generation of entrepreneurs. Today, I am excited to announce the Google for India Digitization Fund. Through this effort, we will invest 75,000 crore rupees, or approximately 10 billion US dollars, into India over the next five to seven years. We’ll do this through a mix of equity investments, partnership investments, and operational, infrastructure and ecosystem investments. This is a reflection of our confidence in the future of India and its digital economy.”- Speaking about the investment, Sundar Pichai, CEO, Google and Alphabet said.
Sanjay Gupta, Country Head and Vice President, Google India added, “India has always been a strategic and important focus for Google. Over the last several years, under the “Next Billion Users” initiative, Google has solved for India by understanding the challenges of India better and building products and solutions that can help Indians get more out of the Internet. Today, we are recommitting ourselves to partner deeply and support India in becoming a truly digital nation by making the Internet helpful for a billion Indians and empowering India to become a leading digital economy.”