Google said that it will invest INR 75,000 crores (approximately US$10 billion) to advance India’s digitisation over the coming 5-7 years, with a new Google for India Digitisation Fund. “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,” shared Sundar Pichai, CEO, Google and Alphabet.
The technology giant said that it will focus on four areas that are important for India’s digitization. First, enabling affordable access to the internet and to information for every Indian, in their own language. Second, building new products and services that are deeply relevant to India’s unique needs including consumer tech, education, health and agriculture. Third, empowering businesses of all sizes, especially SMBs, as they continue or embark on their digital transformation. Fourth, leveraging technology and AI for social good, including digital literacy, outbreak predictions, and support for rural economies.
“There’s no question we are facing a difficult moment today, in India and around the world. The dual challenges to our health and to our economies have forced us to rethink how we work and how we live. But times of challenge can lead to incredible moments of innovation. Our goal is to ensure India not only benefits from the next wave of innovation, but leads it. Working together we can ensure that our best days are still ahead,” said Pichai.
India Digitisation Fund will focus on four areas important to India’s digitization:
- First, enabling affordable access and information to 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.