Google India has just made a significant announcement in its digital “Google for India” event on Monday, July 13, 2020. As part of the announcement, the company revealed that it plans to invest $10 billion in the Indian market. This investment sum amounts to about Rs 75,000 Crore at the time of writing. The amount will likely change depending on the exchange rate. It will invest this amount as part of the new “Google for India Digitization Fund”. Beyond this, the announcement also noted that the company will make the investment in the next five to seven years. Let’s check the details around the Google for India investment announcement here.
Google for India announces Digitization fund; details
Taking a look at the announcement, Google CEO Sundar Pichai also revealed the details around the investment. Pichai shared a statement around the investment to hint at the areas where the company wants to focus. The statement says, “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.” As part of the investment, the company will also ensure that Indian users can access the information in their own language. It does not matter if the language is Hindi, Punjabi, Tamil, or more.
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The company also emphasized on the affordability aspect while accessing the information. In addition, Google will make new products and services that cater to the unique needs of the Indian market. It will also work with small and medium businesses to help continue or even start their journey of digital transformation.
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Google also noted that it is working to leverage the latest technology including AI to focus their attention of “social good”. These areas include health, education, and agriculture across the market. Google India head Sanjay Gupta also shared a statement as part of the announcement. Gupta noted, “We are recommitting ourselves to partner deeply and support India in becoming a truly digital nation.” Multiple Google India executives shared details about the ongoing initiatives to help users across commerce, education, and more.
The company also revealed that it will team up with CBSE for the Skill education program to train about 1 million teachers in 2020. It also highlighted its latest “Teach from Home” initiative that allows educational institutions and schools to switch to digital methods for teaching. Ravi Shankar Prasad, the Minister for the Ministry of Electronics and Information Technology and Law and Justice hailed the investment while addressing the audience during the online event.
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