In a meeting with Prime Minister Narendra Modi, Google CEO Sundar Pichai has announced a huge investment at the Google for India virtual live-stream event. Through this initiative, the company will invest ₹75,000 crore, or approximately $10 billion in the country in the next five to seven years.
PM Modi discussed with Sundar Pichai on a wide range of subjects such as leveraging the power of technology to transform the lives of India’s farmers and youths and the importance of data security.
During the interaction, they also spoke about the new work culture that is emerging in the times of COVID-19. “We discussed the challenges the global pandemic has brought to areas such as sports. We also talked about the importance of data security and cyber safety,” the prime minister said in a series of tweets, sharing pictures of the virtual interaction.
“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,” Pichai said.
Sundar Pichai is famous all across the world for his epic success. From staying in a two-room apartment in Chennai to living in a beautifully designed home in the USA, he has come a long way. He has had quite an interesting journey. His net worth is estimated to be at $1.2 billion. His salary is $199.7 million.
Google India Digitization Fund will be used for investments in Indian innovations and development of infrastructure, said Pichai, who has been leading Google as Chief Executive Officer since 2015. The investments will focus on four key areas.
- affordable access to Indian languages
- building new products and services unique to India
- empowering business, and
- leveraging artificial intelligence (AI) in health, education and agriculture
“Just four years ago, only one-third of all small businesses in India had an online presence. Today, 26 million SMBs are now discoverable on Search and Maps, driving connections with more than 150 million users every month. What’s more, small merchants across the country are now equipped to accept digital payments. ” Pichai said.