Sundar Pichai, CEO of parent Alphabet Inc., announced at the Google for India virtual live-stream event on Monday, that Google will invest $10 billion over the next five to seven years to get more businesses and people online. The investment of Rs 75,000 crore will be focusing mainly on four areas. Firstly, enabling affordable access and information for every Indian in their respective language. Secondly, building new products and services that will fulfil India’s unique needs and drive economy digitally by helping local businesses to have an online presence. It will also work in various sectors using Artificial Intelligence.
Today, more than 500 million people in India are online in which 450 million smartphones are in active use. Many companies are interested to be a part of this digital growing economy and thus, investors to put on more money to capture the future markets which will provide a gateway for users going online to buy products, find information, stream content, and make payments.
“Today, I’m excited to announce the Google for India Digitization Fund. Through this effort, we will invest Rs 75,000 crores, or approximately $10 billion, into India over the next 5-7 years. We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure, and ecosystem investments. This is a reflection of our confidence in the future of India and its digital economy,” Pichai said. Google has also backed a handful of startups in India and have been improving different services to provide a better experience to customers.

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