Google on Monday announced an investment of $10 billion in India. The tech giant announced that Rs 75,000 crore or $10 billion digitalization fund will be utilised over next five to seven years. It will be done via a mix of equity investments, partnership and operational infra and ecosystem investment.
The development comes after a virtual meeting between Prime Minister Narendra Modi and Alphabet chief Sundar Pichai earlier in the day. According to Google, this investment will help realise PM's vision of a Digital India.
"Today at #GoogleForIndia we announced a new $10B digitization fund to help accelerate India's digital economy. We're proud to support PM," Sundar Pichai, who is the chief executive officer of Alphabet Inc and its subsidiary Google, tweeted.
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. https://t.co/H0EUFYSD1q— Sundar Pichai (@sundarpichai) July 13, 2020
"This morning, 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," Prime Minister Modi also earlier tweeted.