With previous big investments from American based companies like Facebook( $5.7bn), Amazon($1bn), Netflix($0.4bn), Google lead by Sundar Pichai joins the list of the biggest investors for India.
With a video call between CEO Sundar Pichai and Prime Minister Narendra Modi this announcement was made.
Its’ the largest commitment by a major global technology firm to the country.
“We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure, and ecosystem investments,” said Madurai-born CEO Sundar Pichai.
- Affordable access of information in local languages.
- Building new products for India.
- Digitizing Businesses.
- Applying Artificial intelligence and Technology in health, education, and agriculture.
After the conversation Prime Minister 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”
Mohandas Pai, chairman of Aarin Capital said “Such Investments are welcome but we need data privacy law, data sovereignty law, and data residency law. We should be careful that the investment does not increase Google’s digital monopoly in India”
Infosys Co- founder Kris Gopalakrishnan also highlighted the issue of digital monopolies in a market like India.
Union Minister Prasad said that Google’s commitment is a big boost to India’s target of becoming a $1 trillion digital economy and can help with the initiative of building one lakh digital villages.