Google CEO Sundar Pichai on Monday announced a $10 billion GoogleForIndia Digitisation Fund. Under the fund, Google will invest roughly Rs 75,000 crore in India over the next 5-7 years. "I am glad to announce Google for India digitization fund – it's $10 billion dollars for India alone," Sundar Pichai said in a tweet. The investment will be done through a mix of equity investments, partnerships and operational infrastructure in ecosystem investments, he said.
Pichai announced this investment after his virtual meeting earlier today with Prime Minister Narendra Modi. PM Modi had tweeted, "We spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of India’s farmers, youngsters and entrepreneurs. Google India Digitization Fund will be used for investments in Indian innovations and development of infrastructure, Sundar Pichai said. Pichai said he wanted India not only to benefit from next wave of innovation but to lead it. Google, he said, will focus on the following areas of investment. This includes, affordable access to Indian languages, building new products and services unique to India, empowering business, and- leveraging in health education and agriculture.