Google to invest $10 billion in Indian digitization fund

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Focus on four areas

He said the investment will focus on four areas important to digitization including enabling affordable access and information for every Indian in their own language, building products and services that are deeply relevant to India’s unique needs, empowering businesses in their digital transformation journey and leveraging technology and AI for social good, in areas like health, education, and agriculture.
With today’s announcement, Google becomes the latest U.S.-based technology firm to commit investments in India. In April, social networking major Facebook bought 9.9% stake in Jio Platform for ₹43,573.62 crore, while e-commerce giant Amazon had in January announced $1 billion investment over five years to help digitise small and medium businesses.
In India, Google has invested in multiple startups — either directly or via Alphabet’s growth fund CapitalG. Some of these start ups are Dunzo, Fynd, Halli Labs, Where in My Train, Aye Finance, Cardekho, Cuemath, Freshworks and Practo. In his address at the event, Minister for Communications and IT Ravi Shankar expressed hope that with this new Fund, Google will focus on promoting Indian startups further.
Source : The Hindu

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