Google To Invest $10 Billion On India
July 14, 2020
Source: Google
Alphabet and Google CEO, Sundar Pichai, recently announced that the Search giant will be investing heavily in the growth and expansion of its technology in India. The ₹75,000 crore or roughly $10 billion in investments, will be spent over a 5-7 year period. The sum of this is a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments.
The company believes that building products for India will also help them create better ones for users around the world. An example of this is GPay. A contactless and online payment system that offers a fast and easy way to complete payments or transfer money.
Google’s AI flood forecasting system, provides Indians with an early warning of floods in the area, which helps keep them safe during India’s dreaded monsoon season. Pichai prefaces the importance of such a system by referencing the devastating impact of the 2015 floods in Chennai, had on Indian families.
India, has a population of over 1.3 billion people, about of half which consists of those below the age of 25. This means that in the coming years, a greater number of Indians will consist of younger people with an unquenchable thirst for tech.
Google says that small and medium companies in India are beginning to realize the potential importance of having an online presence. Four years ago, only a third of SMBs had an online presence, but now, 26 million of such entities are accessible on Search and Maps, driving connections with more than 150 million users every month.
Apart from Google, other companies including Apple have begun to shift their focus toward India. They hope to capitalize on the growing younger and tech savy generations who are embracing the digital age.
Google’s investments will focus on four areas important to India’s digitization:
- Enabling affordable access and information for every Indian in their own language, whether it’s Hindi, Tamil, Punjabi or any other
- Building new products and services that are deeply relevant to India’s unique needs
- Empowering businesses as they continue or embark on their digital transformation
- Leveraging technology and AI for social good, in areas like health, education, and agriculture
The COVID-19 pandemic has had worldwide repercussions on economies, healthcare systems and employment. This has highlighted the importance of digitalizing workflow and data management. An area which Google considers its bread and butter.
