Alphabet CEO Sundar Pichai, in the virtual event “Google for India”, announced a digitization fund of 10 billion USD (Rs 75,000 crore) and added that this money would be invested over the next five to seven years. “We’ll do this through a mix of equity investments, partnerships and operational, infrastructure and ecosystem investments,” Pichai said.
Investments will focus on four 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
Additionally, Pichai said the company will continue to build products out of India which will be scaled up globally like Google Pay.
Watch the highlights of the virtual event: