Google to invest USD 10 billion in India to boost digital economy

Google CEO Sundar Pichai on July 13 announced an investment of Rs. 75,000 crore (approximately $10 billion) into India over the next five to seven years through the ‘Google for India Digitization Fund’.

The major investment is significant as it has come in the middle of the COVID-19 pandemic and multinational companies look across the world for alternative investment destinations.

Prime Minister Narendra Modi had also interacted with Google CEO, earlier on July 13, and discussed the range of subjects like data security, new work culture in Coronavirus times and cyber safety.

Today at #GoogleForIndia we announced a new $10B digitization fund to help accelerate India’s digital economy. We’re proud to support PM @narendramodi’s vision for Digital India - many thanks to Minister @rsprasad & Minister @DrRPNishank for joining us. https://t.co/H0EUFYSD1q

— Sundar Pichai (@sundarpichai) July 13, 2020

Sundar Pichai on the investment by Google:

Sundar Pichai announced Google for India Digitization Fund and informed that the company will invest Rs. 75,000 crores or approximately US $10 billion in India over the next five to seven years. He added that the investment will be made through a mix of partnerships, equity investments, and operational infrastructure in ecosystem investments.

While talking about the technological growth in India, he added that when he was young, every piece of technology brought new opportunities to learn and grow and he always had to wait for it to arrive from someplace else. But today people in India don’t have to wait for technology to come to them. A whole new generation of technologies is happening in India first.

Sundar Pichai along with the Union Minister Ravi Shankar Prasad attended the sixth annual edition of Google for India. He added that the investment is a reflection of our confidence in the future of India and its digital economy.