Sundar Pichai, the Chief Executive Officer (CEO) of Google, on the 13th of July, announced to invest in India.
Mr. Sundar Pichai on the occasion of Google’s sixth edition in India, announced a ‘Google for India Digitization Fund.’
Google organises an annual event in India, which completed its six years in India on the 13th of July 2020, also known as 6th edition of Google in India.
In this annual year, Google launches Indian centric products for its users in India.
Usually the annual event is celebrated as a grand event, but due to the pandemic, it was an online affair this year.
This new initiative would have an investment of $10 billions or, worth Rs. 75,000 crores in the coming 5 to 7 years.
The investment fund would be raised through equity investments (CapitalG,) partnerships, operational and infrastructure ecosystem investments.
The major area of focus in this new initiative would be providing information to all Indians in their own language (Hindi, Punjabi, Tamil or any other,) building products that are relevant to India’s unique needs, empowering small businesses for their digital transformation and lastly leveraging technology and AI for social good.
This would be in three major sectors, health, education, and agriculture.
Sundar Pichai during the 6th edition in India of Google in India said, “There’s no question we are facing a difficult moment today, in India and around the world. The dual challenges to our health and to our economies have forced us to rethink how we work and how we live. But 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. Working together we can ensure that our best days are still ahead.” He further added, “Our AI-powered reading tutor app Bolo, now called Read Along, is another example of a technology built specifically for Indian users. Last year I visited with students in Mumbai who were using the app to learn to read on their own. It was amazing to see their excitement when they read a new word in Hindi for the first time. It received such positive reception, we’re rolling it out to the rest of the world—now children in 180 countries can learn to read in nine languages, with more to come.”
The announcement of Sundar Pichai comes after a meeting with Prime Minister Narendra Modi.
On the morning of the 13th of July, Prime Minister Narendra Modi conducted a meeting with Sundar Pichai.
During the meeting, Mr. Modi discussed several topics including the global pandemic and new work culture for Indians amid the pandemic Novel Coronavirus.
Mr. Modi shared about this fruitful meeting on his official Twitter handle. PM Modi tweeted, “This morning, had an extremely fruitful interaction with @sundarpichai . We spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of India’s farmers, youngsters and entrepreneurs.”
In another tweet, PM Mod said, “During our interaction, @sundarpichai and I spoke about the new work culture that is emerging in the times of COVID-19. We discussed the challenges the global pandemic has brought to areas such as sports. We also talked about the importance of data security and cyber.”
Responding to Mr. Modi, Sundar Pichai said, “Thank you for your time, PM @narendramodi – very optimistic about your vision for Digital India and excited to continue our work towards it.”
The big investment would help India to grow digitally, providing opportunities to grow for Indian businessmen and markets economically.
Stay tuned for further updates.