Google to invest $10 billion in India over the next seven years as it battles rivals like Amazon and Facebook in the vast market of 1.3 billion consumers, said on Monday.
Sunday Pichai, Chief executive told a virtual Google in India event that its fund wound help accelerate india’s digital economy and will include investing in local firms, make infrastructure in areas like digital payments, health and education.
Pichai said we are facing a difficult time at the moment, in India and around the world, the dual challenges to our health and to our economies have push us to rethink how we work and how we live.
Having a challenge can lead to incredible moments of innovation, Pichai said according to a transcript of his remarks released by the US search engine giant.
10 billions of dollars have been spent in India by Foreign firms in recent years are they fight for Asian giant’s burgeoning digital economy.
This has included only this year around $16 billion in investments from Facebook, Intel and others in stakes in the digital services unit of Jio, controlled by Asia’s richest man Mukesh Ambani.
Indian government banned 59 Chinese cellphone apps earlier this month, including the hugely popular TikTok over concerns the firms were passing user data to the Chinese government.
The move came amid a dramatic worsening in relations with China following a brawl on their disputed Himalayan border on June 15 that left 20 Indian soldiers dead.