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Google Announces $10 Billion Digitization Fund To Accelerate India’s Digital Economy

by GoNews Desk 3 months ago Views 2650
Google Announces $10 Billion Digitization Fund To
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Google on Monday announced it’s going to invest ₹75,000 crores or approximately $10 billion into India over the next 5–7 years to help accelerate India’s digital economy.

Google CEO Sundar Pichai in a blog post announced the move and said “times of challenge can lead to incredible moments of innovation. Our goal is to ensure India not only benefits from the next wave of innovation but leads it.”

“Thanks to Prime Minister Modi’s vision for Digital India, the country has made huge progress in getting a billion Indians online. Low-cost smartphones combined with affordable data, and a world-class telecom infrastructure, have paved the way for new opportunities,” the blog post further stated.

Praising the growth trajectory in India, the blog post noted that “Just four years ago, only one-third of all small businesses in India had an online presence. Today, 26 million SMBs are now discoverable on Search and Maps, driving connections with more than 150 million users every month.”

Google’s latest investment will focus on four key areas important to India’s digitization -

  • Enabling affordable access and information for 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

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