Google to invest $10 billion in India, will use money to up digital stake

New Delhi | Bengaluru: Google will invest $10 billion in India over the next five to seven years with the aim of consolidating its position in the digital ecosystem of the world’s fifth-largest economy that is emerging as a battleground for global internet giants.



Alphabet Inc-owned Google’s outlay for India — nearly double the $5.7 billion investment made by rival Facebook in the digital platform of India’s largest conglomerate Reliance Industries in April — will be deployed through a mix of investments and partnerships, chief executive officer Sundar Pichai told ET in an exclusive interview on Monday morning.


“It’s a unique opportunity given where India is poised. We are looking forward to working with Indian businesses of all sizes,” he said in ..


Pichai neither denied nor confirmed reports of Google’s interest in Jio Platforms or a stake acquisition in Vodafone Idea NSE -7.49 %. The country-specific nature of the fund is the first of its kind in the world for Google. “We’ll do it (deploy funds) through a mix of equity investments in large Indian companies, startups, partnerships, as well as infrastructure investments such as data centres,” he said. The fund size, he said, provides an “opportunity to directly make larger investments” in large Indian companies, startups, partnerships, as well as infrastructure investments such as data centres,” he said. The fund size, he said, provides an “opportunity to directly make larger investments” in bigger companies.


Google dominates search, video, maps and email in India. Nine out of 10 smartphones sold in India come with Google’s Android OS.


Read more at: https://economictimes.indiatimes.com/tech/internet/google-to-invest-10-billion-in-india-will-use-money-to-up-digital-stake/articleshow/76937268.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst



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