As per the announcement on Monday by Google that it aims to fund $10 billion in India in the succeeding five to seven years as the search enormous looks to help assist acquiring of digital services in the key foreign market.
Sundar Pichai, chief executive of Google, disclosed Google for India Digitization Fund through which the company will be making the investments in the country.It happens through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments. This is a reflection of Google confidence in the future of India and its digital economy,” It is announced through video conference at the company’s annual event focused on India.
Focal points of investments are on four areas:
- Enabling modest access and information for every Indian in their own language, whether it’s telugu, Hindi, Tamil, Punjabi or any other.
- Building new products and services that are passionately compatible to India’s unique needs.
- Entrusting businesses as they continue or begin on their digital transformation.
- purchasing technology and AI for social good, in areas like health, education, and agriculture.
India is a key foreign market for Google, where a range of its products and services including Search, YouTube, and Android have made invasion with much of the entire online population.More than 500 million people in India are online today and over 450 million smartphones are in active usage in the country.Sundar Pichai said that, “There’s still lot to improve to make the internet nominal and useful for a billion Indians…from improving voice input and computing for all of India’s languages, to inspiring and supporting a whole new generation of entrepreneurs”.
Google, though makes only a fraction of its revenue from the world’s largest internet market. But that doesn’t seem to be a priority for any American or Chinese tech giant in India that is presently searching for the upcoming hundreds of millions of users in developing markets.
Google’s announcement today also comes at a time when India appears to be shutting its door for Chinese firms. New Delhi last month banned 59 apps and services developed by Chinese companies.