Home » Business » Alphabet and Google CEO Sundar Pichai announced around Rs 75,000 crore fund to accelerate India’s digital economy

Alphabet and Google CEO Sundar Pichai announced around Rs 75,000 crore fund to accelerate India’s digital economy

Bengaluru13/7/20:: Alphabet and Google CEO Sundar Pichai on Monday (July 13) announced a $10 billion (around Rs 75,000 crore) fund to accelerate India’s digital economy. The announcement came hours after his meeting with Prime Minister Narendra Modi. It is worth noting that the US-based tech behemoth is all set to expand its presence in the main overseas market.

“Today, I’m excited to announce the Google for India Digitization Fund. Through this effort, we will invest Rs 75,000 crore, or approximately $10 billion, into India over the next 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,” Pichai said.

Thanks to Prime Minister Modi’s vision for Digital India, the country has made huge progress in getting a billion Indians online. Low-cost smartphones combined with affordable data, and world-class telecom infrastructure, have paved the way for new opportunities,” Pichai said while announcing the fund.

Investments will focus on four areas important to India’s digitization. First, enabling affordable access and information for every Indian in their own language, whether it’s Hindi, Tamil, Punjabi, or any other language. 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.

Earlier in the day, Prime Minister Narendra Modi in a twitter post said, “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.”

“During our interaction, @sundarpichai and I spoke about the new work culture that is emerging in the times of COVID-19. We 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,” PM Modi tweeted.

Union Minister Ravi Shankar Prasad welcomed Google’s move to invest $10 billion in India. “I’m very happy that Google is recognizing India’s digital innovation and the need to create further opportunity. There is immense scope for Google to deploy artificial intelligence and undertake new initiatives in the field of agriculture, weather prediction, healthcare in the wake of COVID-19 challenges and most importantly in digital education. Today, India’s app economy is growing very powerfully, but we must not just download apps. It is important also to upload apps from India. I am sure with this new fund, Google will also focus on promoting our startups further,” Prasad added.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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