Google will invest Rs 75,000 crore in India over the next 5 to 7 years as part of ‘Digitization Fund’

NEW DELHI: Google and Alphabet CEO Sundar Pichai at the Google for India 2020 event announced that Google will invest around Rs 75,000 crore or $10 billion in India over the next five to seven years. Google will do this as a mix of equity investments, partnerships and operational, infrastructure and ecosystem investments.
Investments will focus on four areas important to India’s digitization:
-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
“As we make these investments, we look forward to working alongside Prime Minister Modi and the Indian government, as well as Indian businesses of all sizes to realize our shared vision for a Digital India,” said CEO Sundar Pichai.
Google said that small businesses in India have adopted technology quickly and said over 26 million SMBs can now be found on Google. “Just four years ago, only one-third of all small businesses in India had an online presence. Today, 26 million SMBs are now discoverable on Search and Maps, driving connections with more than 150 million users every month. What’s more, small merchants across the country are now equipped to accept digital payments. This has made it possible for more small businesses to become part of the formal economy, and it improves their access to credit,” said Pichai.
“Thanks to Prime Minister Modi’s vision for Digital India, the country has made huge progress in getting a billion Indians online. Low-cost smartphones combined with affordable data, and a world-class telecom infrastructure, have paved the way for new opportunities,” he added.