Google Invests Billions of Dollars for India’s Tech Sector
The American technology giant Google is looking to put in $10 billion dollars toward India’s internet. Therefore, the company is planning to make the internet much more affordable and useful for the country’s citizens.
Of course, the company has seen the vast market in the country and sees more room for its growth.
Alphabet Chief Executive Officer Sundar Pichai unveiled the investment via livestream yesterday during an annual event in the country.
Pichai said the investment is a reflection of the company’s confidence for the country’s future and its digital landscape. He added that India’s “digital journey” is far from over and there is more work to do.
According to the company boss, the investment will help improve voice input and computing for all the country’s languages. Aside from that, it will also support the newest generation of entrepreneurs in India.
Technology news reports say that Sunday’s livestream was part of the yearly Google for India event. The digitization fund will put in money into the country’s tech sector in the next five to seven years.
The plan is a mixture of equity investments, infrastructure spending, and partnerships with various companies in India.
The company wants to focus more on making internet access more affordable, making information more available to billions of people. Reports say that this will then help the country develop more products and offer more services relevant to its unique needs.
It will also primarily focus on helping India’s booming industries, such as agriculture, health, and most especially education.
In the livestream, Pichai said that Google is looking forward to work with Indian Prime Minister Narendra Modi.
Billion Dollar Stakes
Modern technology has widened the horizon for Alphabet’s beloved subsidy. If before, it was only a search engine, now, it’s also investing on huge stakes.
Just recently, it was reported that the company is already in advance discussions to invest $4 billion with Reliance Industries Ltd.
Sources close to the matter confirmed the possible deal between the American tech giant and India’s multinational conglomerate.
Reliance Industries has not yet given any comments regarding the matter. Meanwhile, Google declined to comment.
More and more foreign companies are trying to get in on India’s booming digital landscape. The tension between India and China, which prompted a national boycott on Chinese tech, has also made evident a wide opening.
Just recently, it was reported that Qualcomm joined in on the line of US tech companies backing Jio Platforms.
India’s richest man, Mukesh Ambani, owns Jio Platforms and has been on a fundraising spree. This just shows how Western companies see the Asian nation’s potential for more growth.
