Sunder Pichai announces USD 10 billion ‘Google for India Digitisation Fund’ to help digital economy

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Biznextindia : Google India on Monday announced a USD 10 billion “Google for India Digitisation Fund” to help accelerate India’s digital economy. The announcement was made after Google CEO Sundar Pichai’s meeting with Prime Minister Narendra Modi.

Google will invest the USD 10 billion or Rs.75000 Crore over the next 5-7 years in the “Google for India Digitisation Fund”.

“Today, I’m excited to announce the Google for India Digitization Fund. Through this effort, we will invest Rs.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 Pichai.

Investments will focus on four areas important to India’s digitization:

·         First, enabling affordable access and information for every Indian in their own language, whether it’s Hindi, Tamil, Punjabi or any other.

·         Second, building new products and services that are deeply relevant to India’s unique needs.

·         Third, empowering businesses as they continue or embark on their digital transformation.

·         Fourth, leveraging technology and AI for social good, in areas like health, education, and agriculture.

 

“This morning, had an extremely fruitful interaction with Sunder Pichai. 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. During our interaction, Sunder Pichai and I spoke about the new work culture that is emerging in the times of COVID-19. We discussed the challenges the global pandemic has brought to areas such as sports. We also talked about the importance of data security and cyber safety.I was delighted to know more about the efforts of  Google in several sectors, be it in education, learning, Digital India , furthering digital payments and more” Twitted Prime Minister Modi.

 

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