Google to Commit USD 10 Billion to Accelerate Digitization in India | Financial Buzz

Google to Commit USD 10 Billion to Accelerate Digitization in India

Alphabet Inc.’s (NASDAQ: GOOGL) reported that it would spend up to USD 10 Billion in India within the next five to seven years through investments, making its biggest commitment to a key growth market.  Investments will go through a digitization fund that will highlight Google’s focus on the growth of apps and software platforms in India as it is one of the world’s largest internet services markets.  “We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments,” Sundar Pichai, CEO of Alphabet, said on a webcast during an annual “Google for India” event.

“This is a reflection of our confidence in the future of India and its digital economy.”  “We’re particularly focused on making sure the internet expands beyond English and other vernacular languages. That’s an important angle we’ve looked at,” he told Reuters in an interview.  Internet in India has over 500 million active users as Google will help another 500 million people get online.  Via the fund Beyond Investments, Google will focus on artificial intelligence and education in India. 

Other investments in India, such as startups such as Dunzo, Google previously invested in the company in 2017.  Dunzo is an Indian company that provides delivery services in Bengaluru, Delhi, Gurugram, Pune, Chennai, Jaipur, Mumbai and Hyderabad. It is headquartered in Bengaluru, India.