In a boost to the growing Indian market, Google said it is planning to invest $10 billion. This plan would allow more Indian consumers to use the internet. Indians who live in rural areas can do so. More than 500 million Indians are already online. Now, tech companies are racing to bring the internet to everybody else.
Google Announces Investment
At its annual Google for India event, CEO Sundar Pichai announced the investment plan. He also said the money would allow Indians to access low-cost internet. Pichai hoped that this investment could inspire future Indian entrepreneurs.
CNN reports the Google for India Digitization Fund will handle the money. Over seven years, Google will give out the funds. Some of it will pay for building network facilities in the country.
With this funding, Google wants every Indian to go online. They can use the internet to get information “in their own language.” The internet can also help India’s public services. Healthcare and education will improve. Also, Google is pushing artificial intelligence.
Google Competes with China
Chinese companies rule India’s online market. Tech giants Alibaba and Tencent have invested in the majority of India’s startups. Yet, Google took the chance on India. Relations between China and India have become cold recently.
Pichai has praised India’s move toward a “Digital India.” Prime Minister Narendra Modi laid out the steps for this vision. Pichai has said that this strategy could give India bigger chances to develop.
CNN reports that India is the “world’s fastest growing internet market.” More than 500 million Indians have gone online from 2009 to 2019. Still, the country expects many more Indians to get the internet. Seeing this new market, US tech giants have invested billions.
Pichai has gone to India and met with Modi. The Google CEO was born in India, and he grew up there.
Google Faces Regulations
However, Google and other tech giants face regulations in India. In February of this year, the Indian government passed rules on tech companies. These rules affect how foreign companies gather user data, sell products, and protect user privacy. Many users face losing internet access.
India is still a large market. If they want to grow, companies should go there. But then, the new rules also concern them. The “world’s largest democracy” might be trying to build its own Great Firewall.
