Parul
As per reports, a new Rs 75,000-crore fund has been announced by Google to help accelerate India’s digital economy. Sundar Pichai, Chief Executive Officer, Google stated, “we are proud to support Prime Minister Narendra Modi’s vision digital India mission.
The tech giant has said that the fund will be used over the next five to seven years through equity investments and tie-ups, marking one of its biggest commitments to a growth market. The goal of the fund is to ensure that India not only benefits from the next wave of innovation, but leads it.
The google statement read that the investments will focus on four areas important to India’s digitization. First, enabling affordable access and information for every Indian in their own language, whether it’s Hindi, Tamil, Punjabi or any other. Second, building new products and services that are deeply relevant to India’s unique needs. Third, empowering businesses as they continue or embark on their digital transformation. Fourth, leveraging technology and AI for social good, in areas like health, education, and agriculture,” it said.
As per the released statement, just four years ago, only one-third of all small businesses in India had an online presence. However, today, 26 million “SMBs (small and mid-size businesses) are now discoverable on Search and Maps, driving connections with more than 150 million users every month.”
