Google is planning to invest $10 billion in India
Google, the tech giant is going to invest $10 billion in India over the next five to seven years. Google will use this huge investment to buy stakes in large Indian companies and niche digital service providers. This was confirmed by CEO Sundar Pichai.
The announcement indicates the company’s intent to scale up the India operation. It also wants to get a stronghold on the Indian digital ecosystem. This comes right after Reliance Jio closed 12 rounds of funding in the last three months from marque investors which include $5.7 billion from social media giant Facebook. Google wants to utilise the opportunity for Digital India and Google wants to commit itself to India.
“So building on our years of investment in India, we are launching a Google for India digitization Fund with a Rs 75,000 crore commitment which is $10 billion to be invested in India over the next five to seven years,” said the Sundar Pichai, CEO of Google.
The fund will invest with both large as well as small companies and also invest in infrastructure such as building data centres.
“Using this fund we want to build new products and services, invest in companies that build new products and services that are deeply relevant in India. We want to scale beyond English and other vernacular languages as well.” Said the Pichai. According to him, Google focuses on small and medium-sized businesses and try to help them in their digital journey apart from technologies such as artificial intelligence.
Sundar Pichai also had a conversation with Prime Minister Narendra Modi in recent days. The Indian digital market will be enhanced due to the funding plans of the search giant.