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Google announces Rs 75,000 cr investment plans in India over next 5-7 years

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Google CEO Sundar Pichai on Monday announced plans to invest Rs 75000 crore in India in 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,” Pichai said at the Google for India online event.

Pichai listed that the investments will focus on four areas important to India’s digitization. These include enabling affordable access and information for every Indian in their own language, whether it is Hindi, Tamil, Punjabi, or any other language. It also includes building new products and services that are deeply relevant to India’s unique needs.

This apart, the tech giants focus investment areas include empowering businesses as they continue or embark on their digital transformation and leveraging technology and artificial intelligence for social good, in areas like health, education, and agriculture.

Meanwhile, PM Narendra Modi and Pichai also interacted with each other over a video call on Monday to discuss a number of issues—one of which is likely to be Google’s announcement of the massive Rs 75,000 Digitisation Fund for the country.

India’s Minister of Communications, Electronics and IT, Law & Justice, Ravi Shankar Prasad, who was also part of Google for India 2020, also spoke on his vision for the digitisation of India. In a pre-recorded message that was played back during the presentation, Prasad thanked Google for its investment in the Google India Digitisation Fund.

Calling Google a defining platform of change for empowerment, innovation, information and digital awakening, he spoke about how Google has now penetrated even the deep reaches of the country. Talking about the Rs 75,000 fund that Google is investing in India, he spoke on how this fund will help India bridge its digital divide.

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He said, “Happy to learn that Google is making a huge investment in the Google India digitisation fund. India’s moment has arrived in the digital space and I am glad that Google has recognised it.”

However, talking about the digital needs of the 1.3 billion population of India, he did add that “Google’s initiatives like AI prediction are good, but India craves for more”.

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