In a massive boost to India’s digital economy, Google has announced a fund of 10 billion dollars which roughly converts to Rs. 75,000 crore in order to accelerate India’s economy.
Google’s Chief Executive Officer Sundar Pichai took to Twitter and announced the news. He wrote,
“Today at #GoogleForIndia we announced a new $10B digitization fund to help accelerate India’s digital economy. We’re proud to support PM Narendra Modi’s vision for Digital India – Many thanks to Minister Ravishankar Prasad for joining us.”
Google will be releasing the fund through a period of the next five to seven years in terms of equity investments and tie-ups. Pichai also told that this move is a reflection of Google’s confidence in the future of India and its digital economy. In a statement, Google said,
“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. 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.”
The Video Interaction
Earlier today, Prime Minister Narendra Modi had tweeted about the video interaction he had with Sundar Pichai. He wrote,
“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, we 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.”