Sundar Pichai, CEO of Google, has announced that Google will invest $10billion in India’s digital ecosystem within the next five to seven years.
“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.”Sundar Pichai, Google CEO
For India-born Sundar Pichai, this is more than just an investment in India, it is a “deeply personal mission” for him.
The Digitization fund will focus on :
- enabling affordable access and information for every Indian in their own language, whether it’s Hindi, Tamil, Punjabi or any other
- building new products and services that are deeply relevant to India’s unique needs
- empowering businesses as they continue or embark on their digital transformation
- leveraging technology and AI for social good, in areas like health, education, and agriculture
India is a major market for Google’s key products including Android and Youtube with close to 245 million Indians using YouTube.
In relation to digitization, India is already the second-largest smartphone market in the world, only taking second place to China, and has a population of internet users within the nation predicted to surpass 850 million by 2022.
These stats go to prove the potential for business and tech platforms within India.
Watch the full announcement event:
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