Alphabet CEO Sundar Pichai, seen here at the World Economic Forum in Davos, Switzerland on Jan. 22, 2020, says the investment is a reflection of Google's confidence in the future of India and its digital economy.Denis Balibouse/Reuters
Alphabet Inc.’s Google on Monday said it would spend around US$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 among 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,” Alphabet chief executive Sundar Pichai said on a webcast during an annual “Google for India” event.
“This is a reflection of our confidence in the future of India and its digital economy.”
The new US$10-billion investment was the largest Google had done in India, Mr. Pichai said.
“We’re particularly focused on making sure the internet expands beyond English and other vernacular languages. That’s an important angle we’ve looked at,” he said in an interview.
Google aims to bolster the growth of internet in India, which currently has more than 500 million active users, and help get another 500 million people online, Mr. Pichai said.
Beyond investments via the fund, Google would also focus on areas such as artificial intelligence and education in India, he added.
Google has already made some direct and indirect investments in Indian startups such as local delivery app Dunzo.
Indian-born Mr. Pichai joined Google in 2004 and is widely credited for making the Chrome browser. He replaced company co-founder Larry Page as CEO of parent Alphabet last year.
The U.S. tech group, whose Android mobile operating system powers a bulk of India’s roughly 500 million smartphones, will continue to work with manufacturers to build low-cost devices so that more and more people can access the internet, another Google executive said.
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