During the 2020 Google For India case, Google and Alphabet CEO Sundar Pichai revealed the company would invest INR 75,000 Cr or around $10 Bn under the Indian tech and start-up ecosystem Google For India Digitization Fund. The fund will be invested in companies, social benefit programs and support the digitisation efforts of the Indian government over the next five to seven years.
Pichai added that the fund will invest through a combination of investments in equities, alliances, and investments in operations, infrastructure and ecosystems. That represents our faith in India ‘s future and its digital economy.
Pichai also said : “These investments will create thousands of jobs—including roles within Google, construction jobs in data centres and renewable energy facilities, and opportunities in local businesses in surrounding towns and communities.”
Calling the fund a reflection of its faith in India ‘s digital economy’s future , the company said the fund would target four key areas:
- Enabling affordable internet access and information for Indians in Indian languages
- Building new products and services that are relevant to India’s unique needs and challenges
- Empowering businesses in their digital transformation journey
- Leveraging technology and AI for social good in areas like health, education, and agriculture
Google hasn’t disclosed how those funds or any pledge will be published annually. Only now, it has revealed the corpus and the focus areas.