Google to invest 10 billion USD in India

On July 13, 2020, PM Modi interacted with the CEO of Google, Mr Sundar Pichai. After the interaction, the CEO announced that Google is to invest 10 billion USD in India in the future.

Highlights

The investment will mainly focus Digital India initiative of Government of India. Google has named the investment as “India Digitisation fund”.

About the investment

The private firm is to build new products and services that are deeply relevant in India. Also, the firm is to focus largely on small and medium sized businesses and help them digitize their journey. Also, the fund will be used in Artificial Intelligence technologies.

Background

The major rivals of Google in India are Amazon and Facebook. Facebook recently made an investment of 5.7 billion USD in Reliance Jio. The investment is to digitize 60 million stores in the country. Amazon is to invest 1 billion USD in India. This will total its investment to 6.5 billion USD in the country.

Month: Current Affairs - July, 2020