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    Google announces $10 billion India Digitization Fund

    This is a reflection of our confidence in the future of the country and its digital economy, says CEO Sundar Pichai

    Google announces $10 billion India Digitization Fund

    This is a reflection of our confidence in the future of the country and its digital economy, says CEO Sundar Pichai

    July 13, 2020 02:17 pm | Updated 08:29 pm IST - New Delhi

    Yuthika Bhargava COMMents SHARE READ LATER

    Google CEO Sundar Pichai. File

    Technology giant Google will invest $10 billion (₹75,000 crore) in India over the next five-seven years with a focus on digitising the economy and building India-first products and services, its CEO Sundar Pichai said on Monday.

    Speaking at the company’s annual event, Mr. Pichai, also the CEO of Alphabet (Google’s parent firm) said, “We’ll do this through a mix of equity investments, partnerships and operational, infrastructure and ecosystem investments. This is a reflection of our confidence in the future of India and its digital economy.”

    Focus on four areas

    He said the investment will focus on four areas important to digitization including enabling affordable access and information for every Indian in their own language, building products and services that are deeply relevant to India’s unique needs, empowering businesses in their digital transformation journey and leveraging technology and AI for social good, in areas like health, education, and agriculture.

    With today’s announcement, Google becomes the latest U.S.-based technology firm to commit investments in India. In April, social networking major Facebook bought 9.9% stake in Jio Platform for ₹43,573.62 crore, while e-commerce giant Amazon had in January announced $1 billion investment over five years to help digitise small and medium businesses.

    In India, Google has invested in multiple startups — either directly or via Alphabet’s growth fund CapitalG. Some of these start ups are Dunzo, Fynd, Halli Labs, Where in My Train, Aye Finance, Cardekho, Cuemath, Freshworks and Practo. In his address at the event, Minister for Communications and IT Ravi Shankar expressed hope that with this new Fund, Google will focus on promoting Indian startups further.

    Interaction with Prime Minister

    The Indian born Google CEO also spoke with Prime Minister Narendra Modi via video conference early on Monday. Mr. Modi tweeted that the interaction with Mr. Pichai was “extremely fruitful” and they spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of farmers, youngsters and entrepreneurs.

    “During our interaction, @sundarpichai and I spoke about the new work culture that is emerging in the times of COVID-19. We discussed the challenges the global pandemic has brought to areas such as sports. We also talked about the importance of data security and cyber safety,” the Prime Minister said.

    During his address, Mr. Pichai said, “When I was young, every new piece of technology brought new opportunities to learn and grow. But I always had to wait for it to arrive from some place else. Today, people in India no longer have to wait for technology to come to you. A whole new generation of technologies are happening in India first.”

    He said 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.

    Mr. Pichai said, “There’s no question we are facing a difficult moment today, in India and around the world. The dual challenges to our health and 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.”

    Substantial amount in digital transformation

    Mr. Prasad said, “India today is seeking to transform the life of Indians with the power of technology, and I am very happy that Google is rising to the occasion by trying to invest a fairly substantial amount in the digital transformation. This emphasises upon digital inclusion and overcoming the digital divide.”

    He said there is immense scope for Google to deploy Artificial Intelligence and undertake new initiatives in agriculture, weather prediction, healthcare in the wake of the COVID-19 challenges and most importantly in digital education.

    “Today, India’s app economy is growing very powerfully, but we must not just download apps. It is important also to upload apps from India. I am sure with this new Fund, Google will also focus on promoting our startups further,” he said.

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    Prime Minister Narendra Modi / technology (general)

    स्रोत : www.thehindu.com

    Investing in India's digital future

    Google CEO Sundar Pichai announces a $10 billion Google for India Digitization Fund to accelerate India’s digital economy.

    COMPANY ANNOUNCEMENTS

    Investing in India's digital future

    Jul 13, 2020 5 min read Sundar Pichai

    CEO of Google and Alphabet

    57:47

    Google for India is always a really special time, and I only wish I could be there in person.

    One of the challenges of this moment is that we can’t visit the people we love, or the places we call home. During this time, the ability to be online has been a lifeline to so many of us: whether you’re a small business trying to stay afloat…a parent looking for updates on how to keep your family healthy…or a student trying to keep up with your studies. Being helpful in these moments is at the core of Google’s mission to organize the world’s information and make it universally accessible and useful.

    A new generation of Indian innovation

    This mission is deeply personal to me. Growing up, technology provided a window to a world outside my own. It also brought us closer together as a family. Every evening we were drawn to the television by Doordarshan’s special rendition of “Sare Jahan Se Accha.” I tried to explain this to my colleagues the other day, but I eventually gave up and just showed it to them on YouTube.

    When I was young, every new piece of technology brought new opportunities to learn and grow. But I always had to wait for it to arrive from someplace else. Today, people in India no longer have to wait for technology to come to you. A whole new generation of technologies are happening in India first.

    It’s been incredible to see the rapid pace of change unfolding over my past few visits. From the excitement of young people using the latest apps and services, to the ways people are using smartphones to improve lives in rural villages, to the more than 2,500 Indian YouTube creators who each have over a million subscribers. I’ve actually turned to some of these creators for help over the last few weeks…for example, to learn how to make dishes like paneer makhani or pizza with my kids.

    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.

    When we build for India, we build for the world

    Of course, all this progress was only possible because of a strong foundation of digital connectivity. Thanks to Prime Minister Modi’s vision for Digital India, the country has made huge progress in getting a billion Indians online. Low-cost smartphones combined with affordable data, and a world-class telecom infrastructure, have paved the way for new opportunities.

    At Google, we’ve been proud to be a partner in India’s digitization journey since 2004, when we opened our first offices in Hyderabad and Bangalore. In those days, our focus was on getting helpful and relevant information to Indian users through Search, whether they were searching for their favorite Bollywood star or cricket scores.

    From there, we spread awareness of the Internet in rural villages through programs like Internet Saathi. It’s helped more than 30 million women across India gain digital skills to improve their lives and their communities.

    Google’s efforts in India have deepened our understanding of how technology can be helpful to all different types of people. Building products for India first has helped us build better products for users everywhere.

    A recent example is GPay, our fast, simple way to pay contactless or online. Together with the rise in BHIM-UPI adoption, GPay makes it easy to pay the rickshawala, or send money to family back home. India is setting the global standard on how to digitize payments, and it’s now helping us build a global product.

    Our AI-powered reading tutor app Bolo, now called Read Along, is another example of a technology built specifically for Indian users. Last year I visited with students in Mumbai who were using the app to learn to read on their own. It was amazing to see their excitement when they read a new word in Hindi for the first time. It received such positive reception, we’re rolling it out to the rest of the world—now children in 180 countries can learn to read in nine languages, with more to come.

    And our AI flood forecasting system was designed to keep people safe during India’s monsoon season. I’ll never forget how the 2015 floods in Chennai impacted so many families. I’m hopeful that this technology will bring greater peace of mind to the hundreds of millions of people affected by floods each year around the world.

    Our next chapter of investment: Google for India Digitization Fund

    स्रोत : blog.google

    Google’s Big AI Push To Grow Digitisation In India

    Google will now refocus its efforts towards AI in India to make the internet inclusive for all users - new and existing.

    FEATURES

    Google’s Big AI Push To Make India’s Digitisation Journey Equitable, Inclusive & Safe

    21 Dec'22 | By Meha Agarwal

    The tech giant hosted its “Google for India” event in New Delhi on December 19

    The event's core theme was to harness the power of AI to enhance how Indian users access the internet through text, image, and speech

    Google announced a slew of new initiatives to use AI to improve its products to make them available to a large population of the country

    India is an important and one of the largest markets of tech giant Google. In 2020, Google announced the $10 Bn ‘Google for India Digitization Fund’ to accelerate India’s digital economy. After two years and achieving several milestones, Google will now refocus its efforts towards AI in the country to make the internet inclusive. The theme of Google’s annual ‘Google For India 2022’ event, held in New Delhi on December 19, 2022, was harnessing the power of AI to make India’s digi

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    स्रोत : inc42.com

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