GOOGLE CEO Pichai announces massive investment of 75,000 INR in India

FIRST India born  CEO of Google Sundar Pichai has committed to invest  Rs 75,000 crore in India over the next 5-7 years through ‘Google for India Digitisation Fund’. The Business Standard says Sundar Pichai and  Prime Minister Narendra Modi have had an association for at least five years and they are now discussing new steps for the post-COVID era. Pichai, who had in a keynote address welcomed Modi to Silicon Valley in September 2015, met the PM virtually on Monday, July 13  to discuss economic opportunities during the pandemic. The focus of the interaction was especially on attracting FDI into India and the role of technology giants in turning around the economy. An official confirmed their meet without elaborating on it ahead of addressing a virtual audience in a talk ‘Google for INDIA 2020’ later the same day.PM Modi had in a recent global conference invited global business leaders to invest in India saying the country is a much better foreign investment destination than many others. He had also clarified that the Atmanirbhar Bharat scheme was about self-reliance, but not about shutting out foreign investors. During his first stint as PM, Modi had visited the headquarters of American corporations and also invited US majors like Facebook and Uber to New Delhi in a big event to celebrate startups. Addressing Google for India event, Pichai asserted that the latest move is a reflection of the company’s confidence in the future of India and its digital economy. “Today, I am excited to announce Google for India digitisation fund. Through this effort, we will invest Rs 75,000 crore or USD 10 billion in India for the next 5-7 years,” Pichai said. Investments will focus on four key areas of India’s digitisation, he said. This includes enabling affordable access and information to every Indian in their own language, building new products and services relevant to India’s unique needs, empowering businesses as they continue to embark in digital transformation, and leveraging technology and Artificial Intelligence for social good in areas like healthcare, education and agriculture, he added.