Google CEO Sundar Pichai Commits $10 Billion to India’s Digitization Fund in Discussion with Prime Minister Modi
Google CEO Sundar Pichai Meets Prime Minister Modi, Announces $10 Billion Investment in India’s Digitalization Fund
During a meeting with Indian Prime Minister Narendra Modi, Google CEO Sundar Pichai revealed that Google will be investing $10 billion in India’s digitization fund. This significant investment recognizes India’s leadership in the fintech sector and aims to support businesses in India, the United States, and globally.
In addition to the investment announcement, Pichai shared that Google will be establishing a global fintech operation center in Gujarat International Finance Tec-City (GIFT) located in Gandhinagar. The center will focus on specialized operations, particularly supporting Google’s payment platform GPay and other product operations.
Pichai expressed his admiration for Prime Minister Modi’s vision for Digital India, stating that it has become a blueprint for other nations. The Google CEO emphasized the importance of PM Modi’s forward-thinking approach and highlighted how India’s fintech leadership is set to benefit businesses worldwide.
A spokesperson from Google confirmed the establishment of the Google Fintech Global Operations Center in GIFT City, highlighting India’s fintech expertise and its potential to support both small and large businesses. This move demonstrates Google’s commitment to India and its confidence in the country’s growing role in the global technology landscape.
Google has been operating in India since 2004 and currently has offices in Bangalore, Hyderabad, Gurgaon – Delhi NCR, Mumbai, and Pune. In 2020, the company announced the Google for India Digitization fund, pledging to invest $10 billion in four key areas: affordable access and information, building relevant services, empowering businesses in their digital transformation, and utilizing technology and AI for social good.
Furthermore, Google’s AI Research Center in Bengaluru is actively developing models to support over 100 Indian languages, while collaborating with the Indian Institute of Science for the open sourcing of speech data through the Bhashini project. The company has also partnered with IIT Madras to establish a Center for Responsible AI, showcasing its commitment to advancing AI research and development in India.
Google Cloud has played a pivotal role in supporting businesses and governments in their cloud-based operations. With two cloud regions in Delhi NCR and Mumbai, Google Cloud has been instrumental in India’s digital transformation journey. Prominent Indian enterprises and unicorns such as Jio, Adani, Mahindra Group, Sharechat, HDFC Bank, and Glance Roposo have benefitted from Google Cloud’s services and AI offerings.
In conclusion, Google’s $10 billion investment in India’s digitization fund, coupled with the establishment of the fintech operation center in Gujarat, underlines the company’s commitment to India’s digital growth. This investment will undoubtedly bolster India’s fintech ecosystem and empower businesses to thrive in the digital era.
Also read this article:Political Parties in India Forge Alliance to Challenge Modi in 2024