NEW DELHI:
Alphabet Inc’s Google on Monday said it will spend around $10 billion in India over the next five to seven years through equity investments and tie-ups, marking its biggest commitment to a growth market.
“This is a reflection of our confidence in the future of India and its digital economy,” Sundar Pichai, CEO of Alphabet, said on a webcast during the annual ‘Google for India’ event.
Pichai,met the PM virtually on Monday morning to discuss economic opportunities during the pandemic. The focus was especially on attracting FDI into India and the role of technology giants in turning around the economy.
The investment will be done through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments.
"We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments. This is a reflection of our confidence in the future of India and its digital economy," wrote Pichai.
Investments will focus on four areas important to India’s digitisation:
-enabling affordable access and information to every Indian in their own language, whether it’s Hindi, Tamil, Punjabi or any other.
-building new products and services that are deeply relevant to India’s unique needs.
-empowering businesses as they continue or embark on their digital transformation.
-leveraging technology and AI for social good, in areas like health, education, and agriculture.
"As we make these investments, we look forward to working alongside Prime Minister Modi and the Indian government, as well as Indian businesses of all sizes to realise our shared vision for a Digital India," added Picha