Google for INDIA Digitization Fund
Investment of INR 75,000 crores (~ US$10 billion) announced to drive Digital Transformation in India.
In 2020, India’s digital landscape has completely transformed. Fundamental roadblocks like network infrastructure and affordable data plans are no longer as much of an impediment as before.
Above all, the Covid-19 pandemic has accelerated broader technological shifts, and digital tools have become a lifeline for many during this crisis. Consumers and businesses are rapidly adapting to doing more online and SMBs, schools, large companies and governments are all under intense pressure to digitize. Though this transition is challenging, it is an incredible opportunity to build India-first technology and services that can reach all Indians and help all parts of the Indian economy.
With that in mind, Sundar Pichai, the CEO of Google and Alphabet announced the “Google for India Digitization Fund” — a commitment of INR 75,000 crores (approximately 10 billion US dollars) towards digitizing the Indian economy, marking the company’s renewed commitment towards its ongoing initiatives in India. The Fund—to be invested in the country over the next five to seven years—will be deployed to accelerate Google’s efforts through a mix of equity investments, partnerships, operations, infrastructure and ecosystem investments.
The “Google for India Digitization Fund” will focus on the following areas that are important to India’s digitization:
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