Alphabet company, which is owned by Google, has announced that it will invest 10 billion dollars in India over the next five to seven years, as the Internet giant seeks to enhance its presence in one of its largest growth markets.
The CEO of Google Sundar Pichai launched the Google Fund for India’s digitization, through which it will make investments in India. He said during the annual events of the company in India: “We will do this through a combination of equity investments, partnerships, operational investments, infrastructure investments and the ecosystem, and this reflects our confidence in India’s future and its digital economy.”
The investments will focus on facilitating access to information, introducing new products and empowering companies for their digital transformation and enhancing artificial intelligence in the areas of health, education and agriculture. India, the world’s second largest population, has the second largest digital market.
Many American technology companies are focusing their attention on the Indian market. Last April, Facebook announced a $ 5.7 billion investment in Reliance Geo to digitize more than 60 million small businesses. And last January, Jeff Bezos, president of the Amazon company, announced that it would invest an additional $ 1 billion in India, bringing Amazon’s total investments in the country to 6.5 billion dollars.
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