Victor Ugochukwu · Dec 14, 2020 . 5min read
Google to invest $10B to accelerate India’s digital economy.
Sundar Pichai to support PM Narendra Modi's vision for Digital India, Google for India to invest Rs.75,000 crores providing opportunity to small & medium sized businesses.
By Shilika · Jul 13, 2020 . 7min read
Investing in India’s digital future through Google for India is one of the special initiatives for Sundar Pichai, CEO of Google and Alphabet. Sundar Pichai tweeted that Google will be investing about 75,000 crores or approximately $10B in India over the span of 5-7 years, this Monday morning. He further said that Google for Indian is proud to support PM Narendra Modi’s vision for Digital India.
Today at #GoogleForIndia we announced a new $10B digitization fund to help accelerate India’s digital economy. We’re proud to support PM @narendramodi’s vision for Digital India – many thanks to Minister @rsprasad & Minister @DrRPNishank for joining us.Sundar Pichai
Focus points of the Indian Digitalization Fund
Google has invested in many businesses over the years. CapitalG, a growth equity investment fund by Google has contributed to the dreams of hundreds of businesses. Sundar Pichai announced that the Google for India Digitalization fund will work towards boosting the digital economy in India. This will be done through various equity investments, partnerships, operational investments, infrastructure as well as growing ecosystems. The key focus is on four areas :
- Google plans to provide affordable access and information to every Indian in their vernacular languages. The motive is that no one should be deprived of information.
- Secondly, it plans to cater to developing unique needs by building new products and services for the Indian landscape.
- It also focuses on empowering business in terms of digital transformation.
- It wants to leverage technology in fields like health, education & agriculture that would contribute to social good for a better India.
Pichai also mentioned that they are working on building products like Google Pay that can be scaled globally. This will, however, be a great opportunity for small and medium-sized business to scale up in their digital journey. This can be in terms of building infrastructure, technological advancements and artificial intelligence. It will further lead to active participation by youngsters and entrepreneurs.
Conversation Insights with PM Narendra Modi with Sundar Pichai
Sundar Pichai also had a conversation with PM Narendra Modi this morning .
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 India’s farmers, youngsters and entrepreneurs.Narendra Modi tweeted
Amidst the Indo-China trade tensions during this pandemic, this signals as a relief mechanism in order to scale the Indian digital economy. This news comes right after Reliance closing funding rounds from Marque investors and social media giant Facebook. However, Sundar Pichai has not confirmed or denied any rumours on acquiring stakes in companies like Reliance-Jio or Vodafone-Idea.