Great News: Google announces $10 billion fund for India, Sundar Pichai pens emotional note

Google CEO Sundar Pichai thanked Prime Minister Narendra Modi for the Digital India vision on Monday.

"Thanks to PM Modi's vision for Digital India, the country has made a huge progress in getting a billion Indians online. Low-cost smartphones, combines with affordable data, the world-class telecom structure has paved the way for new opportunities," said Pichai.

Sundar Pichai also announced a USD 10 billion Google for India Digitization Fund to help accelerate India’s digital economy.

“Today, I’m excited to announce the Google for India Digitization Fund. Through this effort, we will invest Rs 75,000 crore, or approximately $10 billion, into India over the next 5-7 years. We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments. This is a reflection of our confidence in the future of India and its digital economy," Pichai said.

Investments will focus on four areas important to India’s digitization:

  • First, enabling affordable access and information for every Indian in their own language, whether it’s Hindi, Tamil, Punjabi or any other

  • Second, building new products and services that are deeply relevant to India’s unique needs

  • Third, empowering businesses as they continue or embark on their digital transformation

  • Fourth, leveraging technology and AI for social good, in areas like health, education, and agriculture

"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", Google CEO said.

He further said that goal is to ensure India not only benefits from the next wave of innovation, but leads it. "There’s no question we are facing a difficult moment today, in India and around the world. The dual challenges to our health and to our economies have forced us to rethink how we work and how we live. But times of challenge can lead to incredible moments of innovation. 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," Pichai said.

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