Google will invest Rs.75000 Cr digitisation fund in India: CEO Sundar Pichai

Google For India Event 2020 Live

Search engine giant Google on Monday announced that it will be setting up $10 billion investment fund for India, which it will be deploying for next 5-7 years. The Google CEO Sundar Pichai said “excites to announce Google for India digitisation fund. Through it, we’ll invest Rs.75000 crore or approx $10 billion into India over next 5-7 years.”

He added “We will do this through mix of equity investments, partnerships and operational infrastructure in ecosystem investment “

Excited to announce Google for India Digitisation Fund. Through it, we'll invest Rs 75,000 Cr or approx US$10 Bn into India over next 5-7 yrs.We'll do this through mix of equity investments,partnerships&operational infrastructure in ecosystem investments: Google CEO Sundar Pichai pic.twitter.com/HSDm0EDcty
— ANI (@ANI) July 13, 2020

According to Pichai’s statement, Google would be enabling affordable access and information for Indians in their own languages ‘whether it is Hindi, Tamil, Punjabi, or any other” . Secondly, would be building Google products and services relevant to the needs of India. Thirdly, it will be to empower businesses and fourth will be for social food- leveraging technology and AI in field such as health ,education and agriculture. Google vision for India.

Pichai said “As we make these investments, we look forward to working alongside Prime Minister Modi and Indian Government, as well as Indian business of all sizes to realize our shared vision for a digital India”

This morning, had an extremely fruitful interaction with @sundarpichai. We spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of India’s farmers, youngsters and entrepreneurs. pic.twitter.com/IS9W24zZxs
— Narendra Modi (@narendramodi) July 13, 2020

Earlier this morning, India’s Prime Minister shared few tweets where he said “this morning, had an extremely fruitful interaction with @SundarPichai .We spoke on wide range of subjects, particularly leveraging the power of technology to transform the lives of India’s farmers, youngsters, and entrepreneurs. “

PM added “during the interaction, I spoke about the new work culture that is emerging in the times of COVID-19. We discussed the challenges the global pandemic has brought to areas such as sports .We also talked about the importance of data security and cyber safety”

CEO Sundar Pichai made the big announcement just after the interaction with PM Narendra Modi.

However, Union Minister for Electronics and Information Technology Ravi Shankar Prasad said “The way this new fund is going to be used from creating digital infrastructure and creating startups to future enhance their potential is something I would like to watch closely and personally. “

The Minister added “Our PM has already announced AtmaNirbharBharat where Indian entrepreneurs are being asked to create new digital products which are made in India. India’s apps economy is also growing”