Google CEO Sundar Pichai has introduced that the tech big will make investments as much as $10 billion in India over the subsequent 5 to seven years. The information got here as a part of Google for India’s annual occasion. The most important headline was the launch of the Google for India Digitization Fund, which can assist speed up the adoption of digital providers within the nation.
Pichai says the fund can be invested in native tech companies, partnerships, and infrastructure. Google plans to spend money on 4 broad classes: language-services, serving to Indian corporations undertake digitization, customizing merchandise to cater to India’s particular wants, and using AI for “social good” within the “well being, training and agricultural sectors.”
Pichai additionally lauded PM Narendra Modi’s Digital India undertaking, which goals to uplift the nation’s digital infrastructure. He additionally talked about in his weblog that this mission is “deeply private,” given that he’s Indian born.
Why is that this funding essential to Google?
India is already an enormous marketplace for Google’s main merchandise, like Android, Google Search, and YouTube. Low cost knowledge charges have led to a growth in web utilization, particularly in regional areas, which holds a serious share in general content material consumption in India. Nevertheless, one large hurdle is the language barrier since India is a various nation with a whole bunch of dialects. This is the reason Google can also be planning to create providers that may be accessible in regional languages too.
The timing of such a big funding by Google is sort of attention-grabbing given the latest ban imposed on Chinese language apps in India, together with well-liked ones like TikTok, UC Browser, and WeChat.
Google can broaden its presence by filling the void created by some apps’ exit, particularly relating to browsers, communication instruments, and utility apps. And it’s not simply Google, this chance is equally large for different Silicon Valley giants.
We now have lately seen a number of large corporations getting into the Indian market with substantial funds. Fb has already invested $6 billion to purchase a stake in Jio, the nation’s largest cellular community. Intel and Qualcomm are additionally planning to spend money on Jio. In the meantime, Apple is planning to open its first retailer in India by 2021.
So India might very a lot turn out to be the subsequent large progress incubator sooner or later, and possibly even the “subsequent Silicon Valley.”