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India emerges as most favoured destination even during Pandemic

During the times of Pandemic, while the world was grappling to re-start its economy, India attracted investments worth US $ 20 billion from world over during April-July 2020.

2. Google announced it will invest $10 billion in India in an effort to make the internet more "affordable and useful" to the more than one billion people living there.  Investment in India’s technology sector is to be made through a new ‘Google for India Digitization Fund', over the next five to seven years. Investments will be through a mix of equity investments, partnerships and operational, infrastructure and ecosystem investments. This is a reflection of Google’s confidence in the future of India and its digital economy.

3. Sundar Pichai, CEO of Google and Alphabet Inc, announced Google’s biggest commitment and eagerness to work with Indian Prime Minister Narendra Modi, the Indian government, Indian businesses to realize a shared vision for a Digital India.

4. These investments focus on increasing access to the internet throughout India, as well as aiding businesses with the transition to online operations.  

5. Much of this will be accomplished through a focus on using apps and new software platforms. Google aims to use this move to enlarge internet access beyond English and into more local languages throughout India. 

6. Google also hopes to use its investments for the public good, working to improve areas as broad as education, agriculture and health. 

7. Leading investments that have been committed during April –July 2020 includes US $ 5.7 billion (Facebook in Reliance Jio platforms); US $ 1.6 billion (Public Investment Fund of Saudi Arabia); US $ 1.2 billion (Walmart); US $ 1 billion (Foxconn-Apple Inc-supplier); US $ 142.6 million (Consumer electronics manufacturer-Thompson); US $ 100 million (We Work in We Work India); US $ 97 million (Qualcomm ventures) and US $ 54 million (Kia Motors).

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