Sundar Pichai, Chief Executive Officer of Alphabet and Google, today addressed the sixth annual virtual event ‘Google For India’ in which he announced the “Google For India Digitisation Fund”. The ‘Google For India’ event is focussed on India-specific announcements by Google. Pichai, during the event, underlined the importance of the Digital India movement. He also acknowledged the fact that Google is continuously working in India to expand the reach of the internet to every part of the country and how they are helping small businesses by bringing them online. But the main point of attraction was the announcement of the Digitisation fund for India.
The Prime Minister of India, Narendra Modi had a discussion with Sundar Pichai earlier today in which they discussed a wide range of subjects. Pichai announced a digitization fund of ₹75,000 crores (approximately $10 billion) which they aim to invest in the Indian ecosystem during a period of 5 – 7 years. In this context, he said, “Today, I’m excited to announce the Google for India Digitization Fund. Through this effort, we will invest ₹75,000 crores, or approximately $10 billion, into India over the next 5-7 years. We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure, and ecosystem investments. This is a reflection of our confidence in the future of India and its digital economy.”
It was further explained that the funds/investments will be for 4 core areas of the Indian Digital Economy:
- The first one is to provide affordable access and information to every Indian in their native languages. Be it Hindi, Tamil, or Bengali, each person should be able to access information in the comfort of his/her native language.
- Secondly, they aim to help us build new products and services that are relevant to the needs of our country.
- Third, they aim to help different businesses by empowering them to digitalize. They aim to help them to bring their business online and make them able to use different digital means for their growth.
- Fourth, they aim to increase the role of technology, especially Artificial Intelligence for the growth of important industries, such as agriculture, medicine, and education.
He said that the Prime Minister’s dream of Digital India is shared by them and they aim to help the digitalization of India in any way they can.
How Will It Help India?
After all the events that happened due to the Coronavirus Pandemic, one thing has been confirmed that the country’s health sector requires great upliftment in terms of infrastructure and technology. Through this digitization fund, Google aims to provide resources that will lead to the increase of the use of technology in the field and to encourage the use of AI in the field which will prove out to be very beneficial for the country. Facebook has also announced that it will invest in Indian Tech-Based startups.
Another important aspect is that even today, the internet can prove out to be unaffordable for many Indian households and the reach of the Internet is also very limited. By the investments by Google in this area (Point 1), the common people of India will be benefitted.
They will also provide help to small businesses to digitalize and become online as they have already done to many businesses around the world. Many of the new businesses are unaware of the fact that their business can grow at a much faster rate and reach out to many more people by making their business go online. By investments in these fields, Google will encourage and help such businesses to grow online and make them aware of different marketing strategies to remain at the top of their game. This will greatly help the Indian economy.
They will also help us to make good use of the latest technology in fields such as agriculture and education which will be greatly beneficial for us. Although the farmers and schools and colleges of India have started the use of technology, Google’s efforts in this area will give them a huge boost and prove beneficial to farmers and students who will get to learn about new technologies around the world and how they can put it to their use.
Hence, this decision by ‘Google For India’ will prove out to be a great step for India towards its goal of Digital India and make people of India more and more aware of the latest technologies and completely reform many industries.