Google CEO Sundar Pichai on Monday announced a Google for India digitisation fund through which, the company will invest Rs 75,000 crore or approximately $10 billion over the next five to seven years to help India go digital.
“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,” the 48-year-old Google CEO wrote in a tweet.
“We will do this through a mix of equity investment, partnerships and an operational infrastructure ecosystem in India. This is a reflection of our confidence in the future of India and its digital economy,” Pichai said during the Google for India virtual conference.
The investment will focus on four areas important to India’s digitisation– first enabling affordable access to information to every Indian in their own language.
“Second, building new products and services that are deeply relevant to India’s unique needs. Third, empowering businesses to continue or embark on digital transformation. And fourth, leveraging technology and Artificial Intelligence for social good in areas like health, agriculture and education,” the Google CEO said.
India’s Union IT Minister Ravi Shankar Prasad were also present during the conference.
Modi meets Pichai
Prime Minister Narendra Modi on Monday interacted with Google Chief Executive Sundar Pichai on a wide range of subjects, particularly leveraging the power of technology to transform the lives of India’s farmers, youngsters and entrepreneurs. They also spoke on the new work culture emerging during the corona crisis.
In the virtual meeting with Pichai, the Prime Minister also discussed the new work culture that is emerging during the COVID-19 crisis.
“This morning, (I) had an extremely fruitful interaction with Sundar Pichai. 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,” Modi said in a series of tweets.
The Prime Minister said he was delighted to know more about the efforts of Google in several sectors, be it in education, learning, digital India, furthering digital payments and more.
During the interaction, Modi said Sundar Pichai and he spoke about the new work culture that is emerging in the times of COVID-19 and also discussed the challenges the global pandemic has brought to areas such as sports. “We also talked about the importance of data security and cyber safety.”
Prime Minister’s interaction with Pichai is significant this time when India is trying to make a big push to attract foreign investments.