Google to Invest $10 Billion in India
July 13 2020 - 6:52AM
Dow Jones News
By Eric Bellman
Alphabet Inc.'s Google will invest $10 billion in India, the
company said, becoming the most recent tech leader to make a big
bet on the country that many see as the world's last great untapped
growth market.
The company has launched the Google for India Digitization Fund
to invest the money over the next five to seven years through
equity investments and partnerships, as well as in infrastructure,
Sundar Pichai, chief executive of Google and Alphabet, said Monday
at Google's annual event showcasing its business in India, which
was held online.
"This is a reflection of our confidence in the future of India
and its digital economy," he said.
With the new coronavirus driving new technology and ways of
doing business, Mr. Pichai said, "Our goal is to ensure India not
only benefits from the next wave of innovation, but leads it."
He said the investment would focus on four areas: affordable
access in local Indian languages, new products and services aimed
at Indians, helping businesses get online, and using technology to
promote social issues including health and education.
Google, which has had operations in India since 2004, is
increasing its commitment to the country as other big America
names, including Facebook Inc., Amazon.com Inc. and Walmart Inc.,
have made big investment plans there.
(END) Dow Jones Newswires
July 13, 2020 06:37 ET (10:37 GMT)
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