Legendary technology giant Google is right to invest $ 10 billion (about Rs 75,000 crore) in India in the next 5 to 7 years. Google is looking to expand its presence in the country and is digitizing itself rapidly. The company will make this investment in India through the 'Google for India Digitization Fund'. This was announced today by Sundar Pichai, CEO of Google's holding company Alphabet, at the program of the sixth edition of the company's 'Google for India'. Google said that it is committed to enable small businesses in India and develop unique products according to the needs of the country.
In this event organized in collaboration with the Ministry of Electronics and Information Technology, Pichai said, "We will make this investment through equity investment, partnerships and operations, infrastructure and ecosystem services." The event was also streamed live on Google India's YouTube channel. Pichai said, "This reflects our confidence in the future of India and its digital economy." This would be the largest investment in India by a company headquartered in California. In addition to indirect investment in the country through its centers and employees, Google has made direct investments in startups like hyper-local delivery app Dunjoy and e-commerce app Find. Capital G, the investment arm of Alphabet, has also invested in fintech company AY Finance and software services (SaaS) company Freshworks. The 'Google for India Digitization Fund' will primarily focus on four areas. First, to reach every Indian economically in their mother tongues such as Hindi, Tamil, and Punjabi. Its Indian unit is also developing new products and services as per the unique needs of India.
Pichai said the fund will also be used to enable businesses to continue their digital transformation and make better use of technology and AI in areas such as health, education, and agriculture.
Global tech giants like Facebook, Amazon, and Google are focused on India. The reason for this is that India has the largest number of internet users, while China has closed its doors to tech giants. In April, Facebook invested $ 5.7 billion for a minority stake in Reliance Jio, the largest foreign direct investment in technology in the country. Earlier this year, Jeff Bezos of Amazon committed to invest $ 1 billion to go online to the country's small business.
In this virtual program, Electronics and IT Minister Ravi Shankar Prasad said, "Google has great potential for implementation and new initiatives in the fields of agriculture, weather forecasting, health care, and digital education. I am confident that with this new fund Google will further encourage our startup. ' Pichai discussed many innovations in India, including Google Pay or GPay. He said that Google Pay has set global standards in digital payments. Last year, he also spoke about the Bolo app introduced to help children learn a new language in India. Along with this, we also told about the flood forecasting system, etc.
Google shared the exciting success story of digitization of small and medium businesses in India and made it available on search and maps. Pichai said that we connect more than 15 crore businesses and customers every month through calls, online and direct requests. Google also announced the launch of an Edutainment series with Prasar Bharati, which will explain how small businesses can adopt digital tools.
Apart from this, Google, along with the Central Board of Secondary Education, will prepare 10 lakh teachers from 22,000 schools across the country by the end of the year, both online and in physical classrooms. It will use free tools like G-Suite, Google Classroom, and YouTube. Google also shared the work done in India since Covid-19.
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