NEW DELHI (Reuters): Alphabet Inc’s Google on Monday said it will spend around $10 billion in India over the next five to seven years through equity investments and tie-ups, marking its biggest commitment to a key growth market.
The investments will be done through a so-called digitization fund, highlighting Google’s focus on the rapid pace of growth of apps and software platforms in India, one of the world’s biggest internet services markets.
“We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments,” Sundar Pichai, CEO of Alphabet, said on a webcast during the annual “Google for India” event.
“This is a reflection of our confidence in the future of India and its digital economy.”
Google has already made some direct and indirect investments in Indian startups such as local delivery app Dunzo.
Beyond investments via the fund, Google would also focus on areas such as artificial intelligence and education in India, Pichai told Reuters in an interview.