Google CEO Sundar Pichai made an announcement on Monday that the tech giant would be investing $10 billion into developing funding digital innovation in India over the next five to seven years.
With a boom in the Internet users in the country in recent years, India still has an untapped digital presence.
At the company’s annual event, Mr. Pichai said they will invest the money through equity investments, infrastructure and ecosystem investments, and partnerships. The investment will reflect Google’s confidence in India’s future and its digital economy.
Additionally, the investment will be focus on four major areas- affordable and easy access of information in local Indian languages, building products and services aimed at national interest, empowering businesses to get on digital platforms, and to promote social issues through technology. Under what the company calls as the “next billion users”, its new products and services will be modified to cater Indians in a better way.
Google has already made some direct and indirect investments in Indian startups, such as the delivery app Dunzo, Practo, Where in My Train, Aye Finance and more. Earlier on Monday, Prime Minister Narendra Modi interacted with Mr. Pichai as they discussed a range of subjects like a new work culture in the chaotic times of coronavirus.