The tech giant said the fund would be used over the next five to seven years through equity investments and tie-ups
NEW DELHI| A new Rs 75,000 crore fund has been announced by Google to help accelerate India’s digital economy, its Chief Executive Officer Sundar Pichai said today, asserting that “we are proud to support” Prime Minister Narendra Modi’s vision.
Marking its biggest commitment to a growth market, the tech giant said the fund would be used over the next five to seven years through equity investments and tie-ups. Mr Pichai, the 48-year-old Indian-American Google CEO post, “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”.
Mr Pichai said on webcast during the annual ‘Google for India’ event “This is a reflection of our confidence in the future of India and its digital economy”.
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
“Investments will focus on four areas important to India’s digitization,” Google said in a statement. It said, “First, enabling affordable access and information for every Indian in their own language, whether it’s Hindi, Tamil, Punjabi or any other. Second, building new products and services that are deeply relevant to India’s unique needs. Third, empowering businesses as they continue or embark on their digital transformation. Fourth, leveraging technology and AI for social good, in areas like health, education, and agriculture.”
Earlier today, PM Modi tweeted he had “an extremely fruitful interaction” with 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,” the Prime Minister tweeted.
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 another post, PM Modi wrote: “During our interaction, @sundarpichai and I spoke about the new work culture that is emerging in the times of COVID-19. We discussed the challenges the global pandemic has brought to areas such as sports. We also talked about the importance of data security and cyber safety.”
During our interaction, @sundarpichai and I spoke about the new work culture that is emerging in the times of COVID-19. We discussed the challenges the global pandemic has brought to areas such as sports. We also talked about the importance of data security and cyber safety.
— Narendra Modi (@narendramodi) July 13, 2020
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