Given the growing population of India, any company wants to invest in India. And this year 2020 Google has also invested a lot of money in India. Let us know what Google has done and how it has made investments in India.
The giant tech company Google has announced an investment of $ 10 billion (about 75 thousand crore rupees) in India. In the next 5-7 years, this investment will be done at such places, which will accelerate the activities of digitization in the country. Google made this announcement at a time when the central government is tightening its grip on technology-related Chinese companies. Due to this many big companies are seeing huge opportunities in India. Let’s know in which areas Google is going to invest and how the other big companies in the world are eager to invest here.
Investing in many companies already: Google has invested in various startups and ventures in India. In November 2013, the company has invested Rs 3.13 crore in Sana Ventures and Rs 3 crore in Agastya International Foundation. Also invested around 339 crores in Dunjo and Rs 39 crores in online education portal QMath. Google has made a recent investment in India on 24 June. It has invested around Rs 207 crore in the Gurugram-based company A Finance.
This is how Google will invest: Google has said that it will invest 10 billion dollars in enabling affordable access to the Internet and making information available to every Indian in his language. Along with this, the focus areas will be consumer technology, education, health, and agriculture. These areas include empowering businesses, especially small and medium businesses, leveraging technology and digital intelligence for digital literacy, supporting rural economies, and detecting various outbreaks. These investments will be made through a mix of equity, partnerships, operations, infrastructure, and ecosystem. These will also include Google’s existing projects, such as Internet partners to spread awareness about the Internet in villages, and flood forecasting systems based on official intelligence.
Google engaged in investment globally: Given the amount of investment that Google is making globally, its investment in India seems to be very small. However, the $ 10 billion investment is part of the Google for India Digitization Fund, through which Indian companies will be promoted in Google’s portfolio. This year between January 1, 2020, and July 13, Google has invested in around 900 companies globally. Of these, Indonesia’s startup Gojek has invested $ 1.5 billion and $ 1 billion in ride-sharing firm Lyft, $ 1.4 billion in Uber, and $ 1 billion in Elon Musk’s SpaceX.
Impact of distance from Chinese companies: This investment of Google has come at a time when the general public along with the government is also not liking Chinese companies. However, the tightening of these companies has presented a big opportunity in India for big tech companies like Google to increase their stake in the Internet. Trading in China is prohibited for large tech companies such as Google, Facebook, Netflix, and Twitter. Thus, the potential hurdles for Chinese companies in India are being seen as better prospects for these US giants to strengthen their position in the market, which has the second-highest number of internet users in the world.
Many companies in line: Google is not the only giant that is going to invest in India. Many other companies are keen to invest in India. Earlier this year, Amazon said it would invest an additional $ 1 billion in India. Also, Facebook has announced an investment of $ 5.7 billion in Reliance Jio. Last month, Microsoft’s venture fund M-12 said it would open offices in India to focus on B2B-B software startups.