PM Modi US Visit: Google to Invest $10 billion for India Digitisation Fund, Says CEO Sundar Pichai

Google CEO Sundar Pichai, announced on Friday that Google would establish a worldwide financial operation centre in Gujarat and contribute $10 billion to the country's digitisation fund.
PM Modi US Visit: Google to Invest  $10 billion for India Digitisation Fund, Says CEO Sundar Pichai

NEW DELHI: Google CEO Sundar Pichai said that the internet giant would establish its global financial operation centre at GIFT City in Gujarat after meeting Prime Minister Modi in the US. Pichai added that his company's $10 billion India Digitization Fund continues to make investments in India.

At President Joe Biden and First Lady Jill Biden's invitation, Modi is in the US from June 21 to June 24. Along with Pichai, the prime minister also spoke with a number of other prominent CEOs, including Microsoft's Satya Nadella, Apple's Tim Cook, OpenAI's Sam Altman, and AMD's Lisa Su.

Sundar Pichai in a statement said that “We are officially opening our global fintech operations centre in Gujarat's GIFT City today. Thanks to UPI and Aadhaar, it will solidify India's leadership in the fintech industry. We're going to expand it globally and build on that base.”

The CEO of Indian descent expressed excitement about the nation's advancements, particularly with regard to the goal of Digital India and the economic opportunities. Additionally, he noted that the PM Modi's plan for a "Digital India" was innovative for the time. According to Pichai, "I now see it as a blueprint that other countries are looking to do so."

In a tweet, the ministry of external affairs stated that Prime Minister Modi had invited Google CEO Sundar Pichai to investigate more opportunities for cooperation in the areas of artificial intelligence, fintech, and cybersecurity goods and services, as well as the production of mobile devices in India.

Google announced intentions to invest $10 billion in India over the next five to seven years in July 2020 in an effort to hasten the uptake of digital services in the important international market.

Pichai made the announcement during his visit to India in December of last year. He said that the India Digitization Fund (IDF), which has a $300 million fund, will invest one-fourth of that amount in companies with female leaders.

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