Google plans to invest ₹75,000 crore in India to boost digital economy

Technology giant Google has announced that it plans to invest over ₹75,000 crore($10 billion) in India over a period of 5-7 years. Google and Alphabet CEO Sundar Pichai made the announcement today at 'Google for India' virtual event. The Google's investment in India will be made through equity investments and tie-ups, marking its biggest commitment to a growth market.

Pichai said that the latest move is a reflecion of the company's confidence in future of India and its digital economy.

"This is an impression of our trust later on for India and its computerized economy," Sundar Pichai, CEO of Alphabet, said on a webcast during the yearly 'Google for India' occasion. 

Speculations will concentrate on four key regions of India's digitisation, he said. This incorporates, 1) empowering reasonable access and data to each Indian in their own language, 2) fabricating new items and administrations applicable to India's one of a kind needs, 3) engaging



organizations as they keep on setting out in advanced change, and 4) utilizing innovation and Artificial Intelligence for social great in regions like human services, instruction and agribusiness. 

"As we make these ventures, we anticipate working close by Prime Minister Modi and the Indian government, just as Indian organizations of all sizes to understand our mutual vision for a Digital India," he said.

"Today, 26 million SMBs are now discoverable on Search and Maps, driving connections with more than 150 million users every month. What’s more, small merchants across the country are now equipped to accept digital payments. This has made it possible for more small businesses to become part of the formal economy, and it improves their access to credit," Pichai said.

Pichai also added, "Our goal is to ensure India not only benefits from the next wave of innovation, but leads it. Working together we can ensure that our best days are still ahead."