Google is going to invest $10 Billion in India over the next five to seven years. The CEO of Google Sundar Pichai has announced about this today at the Google For India Event. From 2015, Google for India has become a yearly event in India, where the company announces initiative designs.
Google makes a $10 billion bet on India
Last year, at this event, Google announced a new AI lab in Bengaluru and also the launch of the mobile payment. Also, the company has given free public Wifi at 400 train stations, and it added Indian languages to its voice and search products.
Now, this year in 2020, CEO Sundar Pichai announced that Google would invest up to $10 billion in India. This year, they also launch the Google For India Digitization Fund. This fund will distribute the $10 billion investments of the next near-decade.
The fun will make money available for assets investment in local tech business, partnerships and infrastructure spending. The investment will be focused on four categories, including language-services. India has recognized 22 officially local languages, including English. It will help Indian businesses embrace digitization and tailoring products to suit India’s needs. And the fourth is the use of AI for social good in areas like education, health and agriculture.”
There are many big companies which have made ways to Indian Market, which is a long-sought after prize for western tech firms.
Facebook has invested nearly $6 billion to buy a stake in Jio. Apple is opening its first store in 2021, and Samsung is bringing digital tech support in India. It looks like India will see significant growth in the future.
The investments come at a chance time for Google as recently India has banned 59 Chinese apps.