Following the meeting with Prime Minister Narendra Modi in Washington during his three-day state visit, Alphabet and Google CEO Sundar Pichai announced that Google plans to invest $10 billion. The company will also open its global fintech operation centre at Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, Gujarat.

In July 2020, Google announced its plans to invest a whopping $10 billion in India through its India Digitisation Fund (IDF) over the next five to seven years to help accelerate the adoption of digital services in the key overseas market. 

Pichai announced in December last year that a part of the IDF would be focused on Indian startups, and $300 million would be invested in entities that women lead. The company will also invest in companies working on artificial intelligence. 

Pichai said that the fintech operations centre in GIFT City would build on the foundation of UPI and Aadhar and take it globally, cementing India’s fintech leadership. 

According to a Ministry of External Affairs tweet, PM Modi and Pichai discussed measures like artificial intelligence, fintech and promoting research and development in the interaction.