Google Investing 10 billion in India

Today at Google for India, Google CEO Sundar Pichai announced a $10 billion Google for India Digitization Fund to help accelerate India’s digital economy. Below is an edited transcript of his remarks. 

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

As we make these investments, we look forward to working alongside Prime Minister Modi and the Indian government, as well as Indian businesses of all sizes to realize our shared vision for a Digital India.

There’s no question we are facing a difficult moment today, in India and around the world. The dual challenges to our health and to our economies have forced us to rethink how we work and how we live. But times of challenge can lead to incredible moments of innovation. Our goal is to ensure India not only benefits from the next wave of innovation, but leads it. Working together we can ensure that our best days are still ahead.

Indian small businesses go digital 

One of the most exciting success stories has been the digitization of small businesses. Just four years ago, only one-third of all small businesses in India had an online presence. Today, 26 million SMBs are now discoverable on Search and Maps, driving connections with more than 150 million users every month. What’s more, small merchants across the country are now equipped to accept digital payments. This has made it possible for more small businesses to become part of the formal economy, and it improves their access to credit.

The global pandemic has supercharged the adoption of digital tools. Digital payments, for example, have enabled families across India to access goods and services during lockdowns. For them, grocery delivery services have been invaluable—though I’m sure my grandmother misses haggling over the price of her vegetables in person.