The Alphabet company that owns the search engine Google, will spend about $ 10 billion in India over the next five to seven years through equity and relationship investments, representing its largest investment in a major market outside the United States.
The investments will be made through the so-called digitization fund, which highlights Google’s focus on the rapid growth of applications and software platforms in India, one of the largest Internet service markets in the world.
Sundar Pichai, CEO of the company,said we will do this through a mixture of investments in stocks, partnerships, operational investments, infrastructure and the ecosystem,” in an Internet broadcast on Monday at the annual Google for India event. “This is a reflection of our confidence in India’s future and its economy.” Digital “.
Pichai said the new investment – worth $ 10 billion – is the largest investment Google has made in India, adding, “We are particularly focused on making sure the Internet extends beyond English and other global languages.”
Pichai said that Google wants to boost the growth of the Internet in India, which currently has more than 500 million active users, and help get another 500 million people.
He added that in addition to investments through the fund, Google will also focus on areas such as artificial intelligence and education in India.
Google has already made some direct and indirect investments in emerging Indian companies, such as the implementation of local delivery “Dunzo”.
India-born Pichai joined Google in 2004, and is credited with creating a Chrome browser, and was replaced by Larry Page, one of the company’s founders as CEO of Alphabet last year. Another Google executive said the US technology group – whose Android system runs most of the smartphones in India – will continue to work with manufacturers to build low-cost devices, so more people can access the Internet