Alphabet's Google to commit $10 billion to India

Sundar Pichai, Chief Executive Officer of Alphabet, at the 50th World Economic Forum in Davos, Switzerland, January 22, 2020. REUTERS/Denis Balibouse/File Photo

Sundar Pichai, Chief Executive Officer of Alphabet, at the 50th World Economic Forum in Davos, Switzerland, January 22, 2020. REUTERS/Denis Balibouse/File Photo

NEW DELHI, July 13 (Reuters) - Alphabet Inc’s Google on Monday said it will spend around $10 billion in India over the next five to seven years through equity investments and tie-ups, marking its biggest commitment to a key growth market.

 

The investments will be done through a so-called digitization fund, highlighting Google’s focus on the rapid pace of growth of apps and software platforms in India, one of the world’s biggest internet services markets.

 

“We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments,” Sundar Pichai, CEO of Alphabet, said on a webcast during the annual “Google for India” event.

 

“This is a reflection of our confidence in the future of India and its digital economy.”

 

Google has already made some direct and indirect investments in Indian startups such as local delivery app Dunzo.

 

Beyond investments via the fund, Google would also focus on areas such as artificial intelligence and education in India, Pichai told Reuters in an interview.

 

Indian-born Pichai joined Google in 2004, and is widely credited for making the Chrome browser. He replaced company co-founder Larry Page as CEO of parent Alphabet Inc last year.

 

“Sundar Pichai, who is heading Google, is a very powerful symbol of the creative potential of India’s human resource,” India’s technology minister Ravi Shankar Prasad said at the event.

 

The U.S. tech group, whose Android mobile operating system powers a bulk of India’s roughly 500 million smartphones, will continue to work with manufacturers to build low-cost devices so that more and more people can access the internet, another Google executive said.

 

Modi interacts with Google's Pichai on tech, new work culture 

 

New Delhi, July 13 (IANS) Prime Minister Narendra Modi on Monday interacted with Google Chief Executive Sundar Pichai on a wide range of subjects, especially on leveraging the power of technology to "transform the lives of India's farmers, youngsters and entrepreneurs"

 

In the virtual meeting, the Prime Minister also discussed with Pichai the new work culture that is emerging during the Covid-19 crisis.

 

Stressing that Indians are adjusting to and adopting technology at a rapid pace, Modi spoke about farmers benefiting from technology and the possible wide-ranging benefits of Artificial Intelligence (AI) in agriculture.

 

He also explored the idea of virtual labs that can be used by students as well as farmers.

 

"This morning, (I) had an extremely fruitful interaction with Sundar Pichai. We spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of India's farmers, youngsters and entrepreneurs," Modi said in a series of tweets.

 

The Prime Minister said he was delighted to know more about the efforts of Google in several sectors, be it in education, learning, digital India, furthering digital payments and more.

 

During the interaction, Modi said that he and Pichai also exchanged views about the new work culture that is emerging in the times of Covid-19 and also 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's interaction with Pichai is significant as it comes at a time when India is trying to make a big push to attract foreign investments.

 

Pichai also apprised the Prime Minister about the efforts undertaken by Google to help spread awareness and provide reliable information about Covid-19. He said that the strong step of lockdown initiated by the Prime Minister set up a very strong foundation of India's battle against the pandemic.

 

Modi appreciated the proactive role played by Google in battling misinformation and conveying information about necessary precautions. He also stressed on further leveraging technology in providing healthcare services.

 

Pichai also briefed the PM about new products and initiatives by Google in the country and mentioned about the launch of AI Research Lab in Bengaluru, while also highlighting the benefits of Google's flood forecasting efforts.

 

As he was informed about Google's plan to launch a large investment fund and develop strategic partnerships in India, Modi noted that India is amongst the most open economies in the world and cited the recent steps taken by the government towards reforming agriculture and about the campaign to create new jobs, while also highlighting the importance of re-skilling.

 

On the issues of data security and privacy, the Prime Minister said that tech companies need to put in efforts to bridge the trust deficit and also talked about cyber crimes and threats in the form of cyber attacks.

 

Other areas of discussion included technological solutions to expand the scope of online education, access to technology in native language, use of AR/VR (augmented reality and virtual reality) to give a stadium-like viewing experience in the field of sports, and progress in digital payments.