Tech giant Google has announced to invest $10 billion in India in coming 5-7years to boost digital economy. Google CEO Sundar Pichai made this announcement to boost brand’s commitment to work in the direction to implement digital India mission.
“Today I’m excited to announce the Google for India Digitization Fund. Through this effort, we will invest ₹75,000 crore, or approximately $10 billion, into India over the 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 Sundar Pichai at Google for India event.
Today, on 13 July, PM Modi also interacted with Sundar Pichai through video conferencing, where he was briefed about Google's future investment plan. Both the Government of India and Google strive to take India's digital transformation journey forward. Sundar Pichai praised PM Modi’s vision and initiative to build a strong foundation of mission Digital India. He said, “Thanks to Prime Minister Modi’s vision for Digital India, the country has made huge progress in getting a billion Indians online. Low-cost smartphones combined with affordable data, and a world-class telecom infrastructure, have paved the way for new opportunities.
“As we make these investments, we look forward to working alongside Prime Minister Modi and the Indian government, as well as Indian businesses of all sizes to realize our shared vision for a Digital India” he added further.
This investment from Google will fuel the speed of digitization in India which will further strengthen India's global participation in strong digital economy. The advent of next-gen technologies is driving the growth of the Indian economy on various fronts. More and more industries are evolving with the help of technology development which are making India a powerful nation.
Pichai said, this investment will focus on four areas-
This investment of about INR 75,000 crores has come at a very important time for India when the country is going through a difficult period. The severe impact of the pandemic has caused huge damage to the Indian economy and now the government is trying to revive with all possible resources. Briefing about his targets, Pichai added, “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.”
