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To accelerate Indian Economy, Google announces inverstment of Rs. 75,000 Crores

To accelerate Indian Economy, Google announces inverstment of Rs. 75,000 Crores

Sundar Pichai, CEO of Google, at the annual Google for India conference announced that 75 billion rupees (about 10 billion dollars)will be invested in India over the next five to seven years. This is Google India's sixth edition, and was practically caused by the Corona Virus epidemic. The financing will be provided through a combination of capital investments, partnerships, operational investments, infrastructure and the ecosystem, said Pichai. "These investments will focus on four important areas for digitizing India," Pichai added.

In a blog post, Pichai explained that the global epidemic "has increased the adoption of digital tools" in India. With the latest round of funding from the Google for India Digitization Fund, the tech giant will focus on accessing information in more Indian languages, such as Hindi, Tamil, Punjabi and more. Alphabetical Google will also develop new products and services "relevant to India's unique needs." The company added that it would help companies increase their digital footprint, as well as harness artificial technology for the social good in areas such as health, education and agriculture.

"There is still more work to be done to make the Internet affordable and beneficial to a billion Indians ... from improving voice input and computing for all languages in India to inspiring and supporting a new generation of business people," Pichai said of Google’s digitization fund for India.

Speaking of Google's Alphabet investment in India, Communications, Electronics and Information Technology Minister Ravi Shankar Prasad said that Google recognizes the great power of digital empowerment and innovation in India.

He added: "The digital potential in India, the third largest emerging movement in the world, and the extraordinary journey in electronic manufacturing ... are great opportunities that must be used properly to reach their full potential."

Earlier this year, Amazon CEO Jeff Bezos announced a $ 1 billion (Rs. 7517 billion) investment to digitize small and medium-sized companies in India. The new investment has been added to existing Amazon financing of over $ 5.5 billion (Rs. 41,344 million).

Read More: Google's Aug 1 core algorithm update: Who did it impact, and how much?

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