The Strategist

Google to invest $10B in India's IT sector

07/14/2020 - 06:53

Google announced a $ 10 billion investment in India’s IT industry. This decision was published after negotiations between CEO of Google and its holding company Alphabet, Sundar Pichai, with Indian Prime Minister Narendra Modi.

Maurizio Pesce
Maurizio Pesce
The investment will be directed to Google’s fund called the India Digitization Fund. Over the next five to seven years, these funds will be used to create partnerships with promising Indian developers, to develop IT infrastructure in India, to create new products in collaboration with Indian IT companies, to develop startups and to buy shares in local companies.

Earlier, one of Google’s competitors in the Internet market, Amazon, also announced large investments and more active cooperation with India. In January, Amazon founder and CEO Jeff Bezos visited New Delhi, where he announced that his company would invest $ 1 billion in digitalization of local small and medium-sized businesses, and by 2025 would spend a total of $ 10 billion on the purchase of goods and services produced in India.