Google strategizes to invest $10 billion over the next five to seven years to help accelerate the adoption of digital technologies in India.
Sundar Pichai, CEO of Alphabet Inc., made the announcement at the annual Google for India event via video conference. He said the outbreak of the coronavirus has made clear the importance of technology for conducting business and for connecting with friends and family.
“This is a reflection of our confidence in the future of India and its digital economy,” he said of the India Digitization Fund.
The India business has since grown into one of the company’s most important. The country now has more than 500 million internet users, second only to China, with growth that has drawn all the American technology giants.
Google, Amazon.com Inc. and Facebook Inc. are plowing billions into the market to gain users and set the foundation for future revenue growth. In the last decade, Google has successfully launched several products in India, including a Google Saathi service to bring women in rural areas online and its popular Google Pay service.
“This mission is deeply personal to me,” Pichai said. “When I was young, every new piece of technology brought new opportunities to learn and grow. But I always had to wait for it to arrive from someplace else. Today, people in India no longer have to wait for technology.”