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By Vinershea | Jul 13, 2020 04:48 PM

As a sigh of relief to most of the business in India, technology giant Google has announced that it plans to invest more than ₹75,000 crore ($10 billion) in India. The investment will be over a period of 5-7 years. 

google to invest rs 75000 crore in india to boost digital economy

This good news went viral after Google and Alphabet CEO Sundar Pichai made the announcement at 'Google for India' virtual event. 

As per a MoneyControl report, Google's investment in India will be made through equity investments and tie-ups. This will be the firm's biggest commitment to a growth market.

"This is a reflection of our confidence in the future of India and its digital economy," Sundar Pichai said on a webcast during the annual 'Google for India' event. Further speaking on his approach, Pichai said that this move has been decided following a reflection of the company's confidence in the future of India and its digital economy.

Pichai also said that the investments will focus on four key areas of India's digitisation which 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.

- leveraging technology and Artificial Intelligence for social good in areas like healthcare, education and agriculture.

Also giving hope about these investments, Sundar Pichai  stated that, "As we make these investments, we look forward to working alongside Prime Minister Modi and the Indian government, as well as Indian businesses of all sizes to realize our shared vision for a Digital India."

"Today, 26 million SMBs are now discoverable on Search and Maps, driving connections with more than 150 million users every month. What’s more, small merchants across the country are now equipped to accept digital payments. This has made it possible for more small businesses to become part of the formal economy, and it improves their access to credit," Pichai added.

Pointing over his motive behind this investment, Pichai said: "Our goal is to ensure India not only benefits from the next wave of innovation, but leads it. Working together we can ensure that our best days are still ahead." 

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