With the outbreak of COVID-19, technology has become more necessary than ever to connect the world. That is why Google is planning to invest in India over the next five to seven years, to help in the acceleration of the adoption of digital technologies. A Google investment that stands at $10 billion.
The investment from the big tech company was announced by Sundar Pichai, Google and Alphabet CEO, that has big plans for this fund.
How is Google distributing the fund?
The Google investment will be made through different channels. A mix of equity investments, partnerships, operations, infrastructure and ecosystem investments.
According to Google blog, the goal of Pichai is to:
– Give more access to India’s population, to internet, in their own language.
– To build new products and services from different areas, such as education, health and agriculture.
– Empowering small and medium businesses to become digital.
– Support rural economies.
– Leverage technology and artificial intelligence.
– Predict future outbreaks.
For now, India has more than 500 million internet users, and Google wants to make more 500 million to have access to internet.
Is this a reaction of the rejection of Chinese companies?
Since big technology companies like Google and Facebook can’t do business with Chinese firms, the investments in India may become a necessity, in order strengthen their position in the a market that is the second in the world, with most internet users.
The American giants are now investing millions in the Indian market in the name of future revenue growth.
Although the assumptions of second intentions, Google investment was shared as a mission of Pichai, that takes this to a personal side: “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.”