On Monday, Google proclaimed to invest 75,000 Cr. in India, approximately 10 billion in terms of U.S. dollars.
In the sixth annual edition of ‘Google for India’ virtual event. The chief executive officer of the search giant, Sunder Pichai announced a digitalization fund for India.
Google will invest these 10 billion over the next 5-7 years. Funds will be utilized in purchasing a stake in large Indian companies as well as niche service providers.
Early in the day, Prime Minister Modi convoked a discussion with the C.E.O. of Alphabet and Google on a wide range of subjects. P.M. Modi, in one of his tweets, mentioned that the discussion was particularly focused on gripping the potential of technology to transform the lives of Indian farmers, youngsters, and entrepreneurs. He further added, that they also had a conversation about the challenges the global pandemic has brought in.
While addressing the event, Pichai said, that as a company Google is willing to commit itself to the digital Bharat and is excited to see the great opportunity.
He also mentioned that this move of google reflects the company’s confidence in the future of India.
Calling attention to SMBs (small-medium size businesses), Pichai said, just a few years ago, only a small of all small midsize businesses in India had an online presence. And in the present scenario, there are about 26 million small and midsize businesses who are searchable on maps, google is establishing connections with 150 users every month
Google’s aim is to ensure that India not only rides the wave of new innovations but leads it, he added.
On Atmanirbharbharat, Pichai said, Google wants to play a small role in the acceleration of the trend
The digitization fund emphasizes on four main key areas
- Make access to information affordable for every Indian in their own language.
- Creating new products and services that are highly relevant to India’s quirky requirements.
- Equipping businesses as they are constantly growing in terms of technology.
- Leveraging technology and artificial intelligence for social welfare in areas like healthcare.
Pichai says, that India’s digital journey is not yet complete and there is still a lot of work to do in order to make internet budget-friendly and useful for a billion Indians. Google is looking forward to supporting a whole new generation of entrepreneurs and MNCs.
Google collaborates with Central Board of Secondary Education
Just a few days after social media Biggie, Facebook partnered with the Central Board of secondary education, Google has also proclaimed its partnership with the Central board of secondary education. Google aims to validate near about a million teachers across 22,000 schools in India, through its collaboration.
The search giant has also promised an auxiliary investment of 1 million to kaivalya education foundation to tutor 700,000 teachers on online education to disseminate knowledge to the children belonging to low-income groups in India.
Is India the new battlefield for tech titans?
India, one of the biggest untapped digital markets in the world, has suddenly become a stiff toil for the American tech giants.
Gaining a foothold in India is now the most crucial job for American tech biggies that have been largely shut down from doing business in China
While India is jabbed in the middle of the worst pandemic coronavirus with more than 800,000 citizens infected and it’s ecosystem dwindling for the first time in years, Google isn’t the only tech giant turning to the country in tough times.
In the month of April, Facebook proclaimed a $5.7 billion collaboration with an Indian mobile leader in hopes of getting into the country’s vast potential, Specifically in e-commerce
The C.E.O. of Amazon made an announcement about it’s $5 billion investment plan in India to broaden its operations in India. Walmart purchased India’s biggest home-based e-commerce firm, Flipkart, for $16 billion in back in 2018.
The global brands are introducing massive investment plans even the Central Government has Increasingly been announcing restrictions and requirements on how foreign companies can operate in India.
Taking it to Twitter, Ravi Shankar Prasad, information and technology minister of India tweeted google’s investment of $10 billion in India Digitisation Fund over the next 5-7 years will help in accelerating India’s digital economy. Also with this new investment, he believes that Google India will also emphasize accelerating our startups in the future.
Expressing his gratitude towards the government PiyushGoyal, minister of railways and commerce and industry tweeted Ushering in a New Era: Google announces investment of $10 Billion in India.
Under PM Narendra Modi Ji’s pro-growth, business-friendly & transparent governance, India becomes an attractive destination for FDI, & this investment will help in realizing our vision of a Digital India.
Many other government officials took to Twitter to celebrate the new tightened ties between Google and the government of India.
“Good to see Google India writing the next chapter in India. Many more global firsts coming our way in times ahead.” they tweeted.