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Sundar Pichai Says Google Will Invest $75 Million In Women-Led Firms In India, Making It A Major Export Market

December 20, 2022
Google

Google’s CEO Sundar Pichai announced at the beginning of his tour to India—a country he saw as having a significant export economy—that the company is constructing voice and text search for over 100 Indian languages and will spend USD 75 million to help women-led companies in the nation.

According to him, India will have a significant export economy and must strike a balance between protecting its population and allowing businesses to develop within its legal framework.

Before meeting with Prime Minister Narendra Modi, Pichai initially spoke at a Google for India 2022 event and got to know Telecom and IT Minister Ashwini Vaishnaw.

“We appreciate you having us today, PM @narendramodi. It is encouraging to observe how quickly technology is advancing under your direction. We look forward to advancing a free, connected internet for all while supporting India’s G20 chairmanship in the future “After the meeting, he tweeted.

In a blog post to mark the beginning of the visit, Pichai stated that he would be discussing with Modi how Google is “supporting small businesses and start-ups, investing in cybersecurity, providing education and skills training, applying AI in sectors like agriculture and healthcare, and other priorities.” The company did not make any mention of what was discussed during the meeting.

“The development we’re seeing across India has advanced thanks to Prime Minister Modi’s Digital India agenda, and I’m enthusiastic for India to share its experience with the globe as it takes over the G20 presidency in 2023,” he said.

Speaking at the Google for India 2022 event, he claimed that the India Digitization Fund (IDF) is focusing more on Indian entrepreneurs and that one-fourth of the fund’s $300 million in investments will go to companies run by women.

Google announced intentions to invest USD 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.

The CEO, who was born in India, claimed that because the technology is impacting people’s lives on a global scale, it is important to create regulations that are both responsible and fair.

“Given the size and technological leadership it (India) will have, it’s crucial to strike a balance and implement protections for people. You are developing an innovative framework so that businesses can innovate on top of legal certainty. It seems like a crucial time in history. India will have significant export potential. A free and connected internet will be beneficial to it, so finding the appropriate balance will be crucial “added Pichai.

Google is trying to make text and voice internet search available in more than 100 Indian languages, according to Pichai’s blog.

In order to improve its language translation and search technologies, Google and the Indian Institute of Science, based in Bengaluru, established a partnership to gather speech data from 773 districts around India.

The first responsible AI (Artificial Intelligence) centre in India will be established at IIT Madras with a USD 1 million grant from Google. Additionally, Wadhwani AI will get a USD 1 million grant through Google.Org to use cutting-edge technology to improve agricultural outcomes.

According to Pichai, the pace of technological advancement in the nation has been amazing, and Google is assisting startups and small businesses, investing in cybersecurity, promoting education and skill development, and implementing AI in fields such as healthcare and agriculture.

“I’m here to observe the results of the India Digitization Fund (IDF), a USD 10 billion, 10-year initiative. Our Google for India event is helping to develop India’s digital future “added Pichai.

The business purchased a 7.73% share in Jio through Google IDF for USD 4.5 billion and a 1.2% stake in Bharti Airtel for USD 700 million.

At the occasion, Google revealed a partnership with the National eGovernance Division (NeGD) that will make it simple for users to access their real digital documents via the Files by Google app on Android.

“The Android ecosystem will very soon include the Digilocker app. Digilocker will come incorporated into every Android phone “Abhishek Singh, president of NeGD, said.

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