The COVID19 pandemic is being instrumental in driving India’s digital economy to the next milestone. Google’s parent company, Alphabet Inc. is all set to inject a $10 billion investment into India’s digital economy over the next 5-7 years. This morning, Alphabet CEO Sundar Pichai announced the Google for India Digitization Fund. “We will invest $10 billion or INR 75000 crore through a number of equity investments, partnerships, and operational, infrastructure and ecosystem investments,” Sundar Pichai said while making the announcement.
He described the $10 billion investment as a reflection of the Internet giant’s confidence in the future of India and its digital economy. Google’s proposed investment in India is focused on facilitating affordable access to digital information, irrespective of the language, for every Indian. The local businesses that have incurred huge losses due to the lockdown can survive the economic impact of the pandemic through digital transformation. Google’s investment will help with the digital transformation of local businesses through the discriminate use of artificial intelligence in health, education, banking and other areas.
The AI flood forecasting system that Sundar Pichai referred to as an innovative outcome of Google’s $10-billion investment into India, will help alert and evacuate areas before an impending natural disaster. Read Along, an AI-powered reading tutor app empowering kids to read and learn on their own, is another example Pichai mentioned in his announcement. The Chennai-born CEO of Alphabet Inc. was eloquent about the success of Internet Saathi and other programs. Internet Saathi has helped more than 30 million women across the country to acquire digital skills and make their ends meet using the skills in their everyday lives.
Prime Minister Modi discussed a wide range of subjects and the challenges of the COVID pandemic with Sundar Pichai at the sixth annual edition of the Google for India event which was held virtually this morning. The prospects of leveraging the power of technology to transform the lives of India’s farmers, youngsters and entrepreneurs were also discussed at the virtual event.
Pichai applauded PM Modi’s vision for Digital India and its nationwide implementation that facilitates access to the Internet via budget smartphones and affordable data for millions of Indians in rural and semi urban pockets of India. He tweeted that he was glad to continue contributing to Modi’s Digital India.
Narendra Modi tweeted stating, “During our interaction, Sundar Pichai and I spoke about the new culture that is emerging in the times of COVID19. 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.”