This year’s Google for India’s virtual event was quite special for Indian’s this year as Sundar Pichai announced that Google will be setting a fund to help India’s Digital Economy. Through “Google for India Digitization Fund” Google plans to invest around 10 Billion Dollars or around 75 crores over the next 5 to 7 years. The goal of this fund is to help accelerate the adoption of digital services in key overseas markets.
Google for India Digitization Fund will focus on
- Enabling affordable and easy access to information for every Indian in the language of their own choice such as Hindi, Tamil, Punjabi or any other.
- Developing and building new services and products that are relevant and suits India’s unique needs.
- Empower and enable businesses as they continue on their digital transformation.
- Leveraging technology and AI for social good, in areas like health, education, and agriculture.
“We’ll do this through a mix of equity investments, partnerships, operational infrastructure, and ecosystem investment. Pichai said. “This is a reflection of our confidence in the future of India and its digital economy,” he added.
The tech giant Google has already invested in a number of digital startups including Dunzo and Aye Finance in the last few years.
Google has also announced its plan to collaborate with CBSE. Google plans to enable 1 million teachers and 22,000 schools across India by the end of 2020 to “combine classroom approach with online learning” using free tools like G-Suite, Google Classroom, Youtube etc.