Today 13th July 2020, Sundar Pichai CEO of Google and Alphabet announced that Google is making a $10 billion investment in India’s digital economy. Here are all of the details from Pichai’s statement about this latest big-money investment.
The company made the announcement at its Google for India 2020 digital event. In the blog post, Sundar Pichai mentioned that the investment is to help accelerate India’s digital economy.
Goole will invest the $10 billion Google for India Digitalization Fund over a period of five to seven years. Additionally, Pichai wrote:
“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.”
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Also, the fund will tackle some of the most important areas that will speed up India’s digitalisation. These areas are:
— Enabling every Indian to get information in their own language and making it affordable as well. This is important because the country has 22 recognised languages.
— Building new products and services that will meet the needs of Indians.
— Empowering businesses to further embrace digital transformation.
— Using technology and AI for social good in sectors like health, education and agriculture.
Google will be working with Inia’s Prime Minister Modi and the government to implement the funding. The plan also recognises businesses of all sizes as well.
For Sundar Pichai, he says that the $10 billion Google for India Digitalization Fund is deeply personal to him. He mentioned that growing up in India, “ technology provided a window to a world outside [his] own”.
As a child who had seen every new piece of technology as an opportunity to learn and grow, Google’s CEO understands what it means for Indians to no longer have to wait for technology to arrive in other places before theirs.
He mentioned, “a whole new generation of technologies are happening in India first.” This is true as many other tech giants are also seeing India as a place for the next big technology boom.
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