Google will invest Rs. 75000 crores or approximately $10 billion in India over the next five or seven years. Google CEO Sundar Pichai announced today in the annual Google for India event. This sixth edition of Google for India event was a virtual event due to COVID-19 restriction.
The investments will be done through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments. In a blog post Google explained that investments will focus on four areas important to India’s digitization:
- First, enabling affordable access and information for every Indian in their own language, whether it’s Hindi, Tamil, Punjabi, or any other.
- Second, building new products and services that are deeply relevant to India’s unique needs.
- Third, empowering businesses as they continue or embark on their digital transformation.
- Fourth, leveraging technology and AI for social good, in areas like health, education, and agriculture.
“This (investment) is a reflection of our confidence in the future of India and its digital economy,” Pichai said at the Google for India online event. So we can expect that Google will invest in tech startups and other such organizations in coming years in India.
India is one of the world’s biggest digital markets which is not saturated. So companies like Google will not miss the chance to grab the digital market share in India. Other big companies like Microsoft, Amazon are also investing in the Indian digital market. Most of the foreign company has lost to the regional competition in another big digital market which China. So now they are making sure that the same thing should not happen in the Indian market.