Google’s CEO, Sundar Pichai, has commended India’s progress in the digital sphere and announced the establishment of Google’s global fintech operations center in GIFT City, Gujarat. The announcement came after Pichai’s meeting with Prime Minister Narendra Modi during his visit to the United States. The meeting between the two influential figures highlights the significance of India as a key market for Google.
Pichai emphasized Google’s ongoing investments in India through its USD 10 billion India Digitisation Fund. He expressed his excitement at witnessing the country’s advancements, particularly in realizing the vision of Digital India and the economic opportunities it brings. Pichai revealed that he had ongoing conversations with the Prime Minister since their meeting in December, and Google’s investment commitment would continue. The India Digitisation Fund includes funding for AI-focused companies and aims to support the growth of digital services in the country.
During their meeting, Prime Minister Modi and Pichai discussed further collaboration opportunities in areas such as artificial intelligence, fintech, cybersecurity products and services, and mobile device manufacturing in India. They also explored avenues for promoting research and development and skill development through partnerships between Google and Indian academic institutions.
Pichai praised Prime Minister Modi’s visionary approach to Digital India, stating that other countries now view it as a blueprint to emulate. The Ministry of External Affairs tweeted about the discussions, highlighting the importance of fostering collaboration in various technological domains.
In July 2020, Google announced its intention to invest USD 10 billion in India over the next five to seven years to accelerate the adoption of digital services in the country. As part of this commitment, a significant portion of the India Digitisation Fund is dedicated to supporting startups led by women. A quarter of the USD 300 million funds has been earmarked for empowering and promoting women-led enterprises.
Google’s investment and establishment of its global fintech operations center in GIFT City further solidify India’s position as a leader in fintech, leveraging advancements such as the Unified Payments Interface (UPI) and Aadhaar. The move also reflects Google’s recognition of India’s potential as a digital hub and its commitment to expanding globally from its base in the country.
As India continues to make significant strides in its digital transformation journey, collaborations between global tech giants like Google and the Indian government serve as catalysts for further innovation, economic growth, and technological advancement. The establishment of the global fintech center and ongoing investments by Google highlight the confidence in India’s digital progress and its potential as a thriving digital economy.