The US tech giant Google plans to invest $10 billion in India over 5-7 years. On Monday it announced that ‘Google for India digitization Fund’ is set up via which it will invest $10 billion in India over the next 5-7 years
The investment will be a mix of equity investments, partnerships, infrastructure, operations, and ecosystem investments. This announcement comes after the Indian government bans 59 Chinese apps and blocking Chinese technology investments.
The investment plan by Google includes bringing more quality low-cost smartphones to the country that have internet access.
Earlier to the announcement, the Indian Prime Minister Mr. Narendra Modi participated in the video conference by Google CEO Mr. Sundar Pichai and several other top executives of the company.
PM Modi tweeted that he had a good interaction with the Google CEO and discussed several topics, especially introducing technology that can change the lives of Indian farmers, youngsters, etc.
He also said about discussing the work culture change in the times of COVID lockdown. They also discussed the importance of cybersecurity in these times.
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Google says that this investment will focus mainly on enabling easy access internet to every Indian in their own language. It also said that there are plans to empower small and medium businesses by using artificial intelligence and support.
Google Vice-president says that the company aims to bring affordable low-cost smartphones into the Indian market.
The investment of $10 billion is to make up for the space left by the Chinese investors in India. Earlier this year, India revised its FDI policy which will not let any takeover from the Chinese companies.
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