According to the recent news, the world’s highest-paid and also the youngest technology titans, Sundar Pichai has now planned on expanding Google’s footprint in India. India is one of the world’s fast-growing economy, and the country has a fantastic talent with access to a vast market and substantial entrepreneurial and venture. Google Investment in India is going to be very much prospective.
Major Announcements on Google Investment in India:
Google company has undoubtedly come up with surprise and has made the following significant announcements:
The company plans to invest $10 billion approximately 75,000 crores for digitization.
- Google Investment in India is going to be through a mixture of equity investments, partnerships and operational, infrastructure, and ecosystem investments.
- The opportunity will use the technology in health and elements everywhere for the social good of the country.
- The investment plan is in line with the pace of the digital transformation of Prime Minister Modi.
Google will gladly partner with the government in compliance with laws.
- In terms of tax, the new global tax structure is an allocation issue and is best managed through the Organization for Economic Cooperation and Development – OECD processes.
- There are plans to create new products and services in sectors like consumer tech, education, health, and aggrotech; empowering businesses, especially small and medium ones, to rework digitally; leveraging technology and AI for digital literacy, outbreak predictions, and support for rural economies.
- The existing projects like Internet Saathi for spreading awareness of the Internet in rural villages and an artificial intelligence-based flood forecasting system and various others.
- The announcement of Google investment in India in digitization assumes particular implications given the future gap in the country’s tech investment ecosystem following the Centre’s restriction on Chinese technology firms.
- Google plans the long-term investment for the next 5 to 7 years by way of equity investment, partnerships, and other arrangements.
Public Statements by Google:
The media has been publishing a lot about this plan of investment. We bring you some of the official statements by Google company.
- According to Sundar Pichai, “First, enabling reasonable access and knowledge for each Indian in their language, whether it’s Hindi, Tamil, Punjabi, or the other.
- Secondly, building new products and services that are profoundly relevant to India’s unique needs.
- Third, sanctioning businesses as they continue or start their digital transformation.
- Fourth, leveraging technology and AI for social good, in areas like health, education, and agriculture. “Ravi Shankar Prasad, India’s Minister of Communications, Electronics and IT, Law & Justice, was also part of Google For India 2020.
He also spoke on his vision for the digitization of India and, in a pre-recorded message, thanked Google for its investment in the Google India Digitisation Fund. According to Prasad, “Glad to learn that Google investment in India is enormous in India digitization fund. India’s moment has arrived in the digitalised space, and I am glad that Google has recognized it.”
Google Top Investment:
Google investment in India earlier was in various startup and ventures in India through several of its investment vehicles. On November 1, 2013, the company invested Rs 3.13 crore in Sana Ventures in the seed funding round and Rs 3 crore in Agastya International Foundation.
Since then, it has invested in $45,000,000 in Dunzo and Rs 39 crore in the online education portal CueMath. Between January 1, 2010, and July 13 this year, Google and its venture capital arms have invested in more than 900 companies globally. Among these, it has the most considerable investments of $1.5 billion in Indonesian multi-service startup Gojek, $1 billion in ride-sharing firm Lyft, $1.4 billion in its rival Uber, and $1 billion in Elon Musk’s SpaceX.
In its latest investment on June 24, Google put $27,500,000 in the Series E funding of a Gurugram-based company Aye Finance.
About Startup Investment:
Google Investment in India will be of of ₹7,53,70,05,00,000.00 in Startup for a period of next 5 to 7 years. And this is the golden opportunity as there cannot be a more significant prospect for Startup again. This is your time to grow big by riding this wave.
Now, Angel Investors will pump in a lot of money to the Indian ecosystem to get huge exits. More startup will come up to give you competition. Don’t keep waiting; you should sign-up immediately for our funding services if you are looking to raise funds.
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