Google has announced an investment of 10 billion (over 16 trillion Pakistani rupees) in India over the next few years.
The announcement was made by Google Chief Executive Officer (CEO) Sundar Pachai during a speech at the company’s annual event in India.
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
This year, the event announced the creation of the Google for India Digitization Fund, under which the company will invest ارب 10 billion over the next 5 to 7 years.
Sundar Pachai said the fund would ensure the availability of investment for local technology companies, partnerships and infrastructure.
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
The company will focus on four areas, including language-based services, helping local companies become part of the digital world, and providing services tailored to local needs.
The fourth sector will be based on the use of AI technology for health, education and agriculture.
Google has been hosting an event in India every year since 2015 and last year the company announced the establishment of an AI lab and the introduction of mobile payments.
Ahead of the event, Google’s chief executive officer met Indian Prime Minister Narendra Modi on Monday to discuss various issues.
Modi discussed with Google chief the challenges posed by the global epidemic.
Indian Prime Minister Narendra Modi said in a message on social networking site Twitter that it was a great meeting with Sundar Pechai this morning. Make a difference in the lives of farmers, youth and business people.
The Indian Prime Minister said he was pleased to learn about Google’s efforts in various fields, including education and digital payments.
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
In response, Sundar Pechai also tweeted that the Prime Minister thanked you for your time, is very optimistic about your vision of Digital India and is determined to work towards it.
In recent months, major technology companies have increased their investments in India.
Facebook has invested 6 billion in Reliance Jio, while Apple has announced that it will open its first retail store in 2021.
Google’s announcement comes as India takes action against China’s technology services and bans a number of apps, while the Indian government has banned online stores and platforms (such as Amazon). It has also announced to tighten the rules regarding companies.
In May this year, the Financial Times reported that Google was considering buying a 5% stake in Vodafone Idea, India’s second-largest telecom company.
According to the Financial Times, Google is also in talks with Vodafone and Geo Reliance.
Over the past decade, Facebook and Google have paid close attention to India and started working on various programs aimed at bringing more people online.
Facebook founder Mark Zuckerberg said in April that his company would work with Geo Platforms to help bring small businesses and individuals online, and the two companies have begun working together.