WHY GOOGLE IS INVESTING 10 BILLONS IN INDIA ?
CEO of Google and Alphabet Mr Sundar Pichai announced that google will
invest 10 Billion Dollars in India over next five to seven years at GOOGLE FOR
INDIA 2020 event. Google will do this as a mix of equity investments,
partnerships and operational, infrastructure and ecosystem investments.
India is one of the developing countries with more young minds and day-by day
new ideas are emerging into industry. This is a golden opportunity for big tech
giants to fund these start-ups in India. Today, India’s app economy is growing
very powerfully, but we should start turning the numbers between users and
creators. I am sure with this new Fund, Google will also focus on promoting start-
ups further. The company is committed to ensure that India not only benefits
from the next wave of innovation, but in fact leads it.
Is this a reaction to curb Chinese companies?
As the announcement of this funds by google were announced way before ban of
Chinese apps, definitely opens more opportunities to Indian companies giving a
scope to work on banned products.
What are Google’s top investments in India so far?
Google has invested in various start-ups and ventures in India through several of
its investment vehicles. On November 1, 2013, the company invested Rs 3.13
crore in Sana Ventures and Rs 3 crore in Agastya International Foundation.
Since then, it has invested in $45,000,000 in Dunzo and Rs 39 crore in the online
education portal CueMath. In its latest investment on June 24, Google put
$27,500,000 in the Series E funding of a Gurugram-based company Aye
Finance. Google also announces a partnership with CBSE for skill education and
training. By end of 2020, Google will enable 1 million teachers and 22,000
schools across India. Additionally, Google.org also announced a new $1 million
grant through its global distance learning fund. The grant will help teachers in
India deliver virtual education for students to continue learning at home.
“The dual health and economic challenges have forced us to reconsider how we
work and how we live.”