Google CEO Sundar Pichai at the company’s sixth edition of Google for India Eventannunciated a ‘Google for India Digitization Fund’. By the way, this an initiative, to support India 2020 Digitalization. Google will invest ₹75,000 crores, or approximately $10 billion in the country in the next five to seven years.
The company will uprise the fund through equity investments, partnerships, operational, and infrastructure ecosystem investments.
Majorly, four key areas will concentrate on investments. Whatever we do, communication is too important. So it holds providing information first to all Indians in their own language, whether it’s Hindi, Punjabi, Tamil, or any other. Second, Google will focus on building products which are India’s unique requirements. Third, it will assist to enable businesses for their digital transformation. Fourth, Google will focus on capitalizing technology and AI among society for its goodness. This includes sectors such as the health department, education department, and agriculture.
“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 in his keynote.
Excluding funds, Pichai also spouted about India’s fast adoption of digital tools for education, businesses, and payments. He mentioned that about 26 million SMBs are available on Search and Maps.
Pichai affirmed that India’s BHIM UPI has set the global standard on how to digitize payments, and it’s now supporting the company to build a global product. “Our AI-powered reading tutor app Bolo, now called Read-Along, is another example of a technology built specifically for Indian users. He excited about their innovation and invention of AI-powered reading tutor Bolo app. And they realized it when he visited Mumbai last year who were using the app to learn and read a new word in Hindi for the first time. He said that already it is running with nine languages, and in the future, it will be more.