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Google to Invest $10 Billion in India to Help Accelerate Its Digital Economy

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Google to Invest $10 Billion in India to Help Accelerate Its Digital Economy

By CircleID Reporter

A new Google for India Digitization Fund, announced by Sundar Pichai, CEO of Google and Alphabet, will invest approximately $10 billion into India over the next 5-7 years. The effort aimed to accelerate India’s digital economy will be carried out through a mix of equity investments, partnerships, and operational, infrastructure, and ecosystem investments. More specifically, the company says the investments will focus on four key areas essential to India’s digitization:

1) Enabling affordable access and information for every Indian in their own language. 2) Building new products and services that are deeply relevant to India’s unique needs. 3) Empowering businesses as they continue or embark on their digital transformation 4) Leveraging technology and AI for social good, in areas like health, education, and agriculture.

A China thing: Gaining a foothold in India has become crucial for American technology giants that have been largely shut out from doing business in China, writes TechCrunch’s Manish Singh. Earlier this month, Google said it had abandoned plans to offer a new cloud service in the world’s largest internet market.