Sundar Pichai, Google chief executive, has unveiled plans to invest $10 billion in India over the five to seven years
Google for India Digitization Fund is the latest move by the US giant to push the uptake of digital technologies in Asia. By implementing the fund, Google said it plans to invest ₹75,000 crore, or approximately $10 billion in India over the next five to seven years.
“We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments,” explained Sundar Pichai, Google chief executive.
The fund will have a focus on agriculture, health and education.
In the agriculture space, Google has set sights on opportunities in food-tech and agri–related businesses spanning the entire food value chain.
India Digitization Fund
Pichai said the Google for India Digitization Fund is a reflection of the company’s confidence in the future of India and its digital economy.
Google has been actively investing in Indian businesses through the company as well as through CapitalG, Google’s growth equity investment fund.
Google for India Digitization Fund has been launched to focus on four areas deemed key to India’s digitization:
- Enabling affordable access and information for every Indian in their language
- Building new products and services that are deeply relevant to India’s unique needs
- Empowering businesses as they continue or embark on their digital transformation
- Leveraging technology and AI for social good, in areas like health, education, and agriculture
“As we make these investments, we look forward to working alongside Prime Minister Modi and the Indian government, as well as Indian businesses of all sizes to realize our shared vision for a Digital India,” Pichai concluded.
Date published: 21 July 2020