Google plans to invest US$10 billion over the next five to seven years to help accelerate the adoption of digital technologies in India.
Mr Sundar Pichai (pictured below), who was born in the country and is currently chief executive officer of parent Alphabet Inc., made the announcement at the annual Google for India event via video conference.
He said, “This is a reflection of our confidence in the future of India and its digital economy”.
The US$10 billion funds are expected to be invested in partnerships, operations, infrastructure, the digital ecosystem, and equity investments. Google will focus on several key areas:
- Providing affordable access and information for every Indian in their own language, including Hindi, Tamil, and Punjabi
- Developing new products and services focused on India’s unique needs
- Encouraging businesses as they continue or embark on their digital transformation
- Utilising technology and artificial intelligence for social good, in areas like health, education, and agriculture
INTO INDIA can report there are more than 500 million internet users in India, second only to China, with growth that has attracted all the American technology giants.
Google is already using AI to predict floods in India
For those watching political and strategic shifts away from China – earlier this month, Google stopped its plans to offer a new cloud service in China and other politically sensitive countries.
India has had a surge of foreign interest in its digital economy. In the last few months, investors including Facebook Inc., Qualcomm Inc. and Intel Corp. have put around US$16 billion in the digital services unit of India’s largest conglomerate, the retail-to-telecom giant Reliance Industries Ltd.
Google, Facebook, Amazon.com Inc., and others are investing billions into the market.
As China seems less attractive for investors, India has the opportunity to shine and show its true attractions to investors and business.