a) Google on Monday announced Google for India Digitization Fund worth $10 billion (Rs 75,000 crore), which the technology giant would invest in India over the next 5-7 years. The investment will be done through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments.
b) Calling India’s digital journey far from complete, Pichai announced the Google for India Digitization Fund that will invest nearly $ 10 billion in India over 5-7 years.
“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.
c) Investments will focus on four areas important to India’s digitisation:
- First, enabling affordable access and information to 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.
“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 Pichai
d) Google Chief Executive Officer Sundar Pichai and Prime Minister Narendra Modi have had an association for at least five years now, and they are now discussing new steps for the post-COVID era.
e) Pichai, who had in a keynote address welcomed Modi to the Silicon Valley in September 2015, 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.
f) A government official confirmed that Pichai and Modi had a conversation without elaborating on it. Pichai is set to address a virtual audience in a talk ‘Google for INDIA 2020’ later on Monday.