To help India accelerate the ladder of digital growth, Google CEO Sundar Pichai has announced a massive investment of USD 10 Billion, or Rs 75,000 crore in Indian currency.
Stating on his twitter handle, Sundar Pichai said, “We’re proud to support PM Narendra Modi’s vision for digital India”. Marking one of its biggest commitments to the ever-growing digital market of India, the tech giant said the fund would be used over the next five to seven years through equity investments and tie-ups.
In a webcast during the 6th annual edition of the ‘Google for India’ event, Mr. Pitchai stressed that this the reflection of the trust the company cites on the country and its ambition. “Investments will focus on four areas important to India’s digitization,” Google said in a statement.
Prime Minister Narendra Modi welcomed Google’s decision to invest in India. Taking it to Twitter, PM Modi wrote: “This morning, had an extremely fruitful interaction with @Sundarpichai. We spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of Indian farmers, youngsters, and entrepreneurs.”
Investments will focus on four key areas of India’s digitization. This includes – enabling affordable access and information to every Indian in their own language, building new products and services relevant to India’s unique needs, empowering businesses as they continue to embark in digital transformation, and leveraging technology and Artificial Intelligence for social good in areas like healthcare, education, and agriculture.