Google’s Chief Executive Officer Sundar Pichai has announced that an investment of ₹.75,000 crore would be invested in India in the next 5 years.
After discussions between Google’s CEO, Sunder Pichai and Indian Prime Minister Narendra Modi, in the 6th edition of “Google for India” has announced $10 billion (₹.75,000 crore) would be invested in India in the name of Digitalization Fund in the next 5-7 years.
The information was shared through tweets related to this by both PM Modi and Sunder Pichai.
Here are the tweets of Narendra Modi and Sunder Pichai:
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. pic.twitter.com/IS9W24zZxs
— Narendra Modi (@narendramodi) July 13, 2020
Today at #GoogleForIndia we announced a new $10B digitization fund to help accelerate India’s digital economy. We’re proud to support PM @narendramodi’s vision for Digital India – many thanks to Minister @rsprasad & Minister @DrRPNishank for joining us. https://t.co/H0EUFYSD1q
— Sundar Pichai (@sundarpichai) July 13, 2020
This is a big boom to the Indian IT sector. The Coronavirus pandemic has shattered the world economy its own way. Investments by companies like Google will not only flourish employment opportunities but also boost the economies.
Indian media was eagerly waiting about Google products from this morning. The Advertisement that was teasing for the past few days was expecting a new product launch like Nest Smart Speaker. But to everyone’s surprise, Google’s CEO has announced Investing in India.
Although a detailed investment has not been revealed, the outlines of the investment were publicised. According to this, the investments will be a mix of partnerships, operational infrastructure, equity investments and ecosystem investments. On the other hand, India has plans to abolish Chinese products along with its Apps. So, the opportunities for new entrants will be blossoming.