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Google to allocate $10 billion to help accelerate India's digital economy
Google will allocate $10 billion to be used over the next five to seven years through equity investments and tie-ups to help accelerate India's digital economy, according to Google Chief Executive Sundar Pichai.
The funding is one of Google's most significant commitments to a growth market.
Indian Prime Minister Narendra Modi, who was briefed by Pichai about Google's plan to launch a large investment fund and develop strategic partnerships in India, noted that Indians are adjusting to and adopting technology rapidly.
In his interaction with Pichai, the PM explored the idea of virtual labs for students and farmers.
Modi added that he appreciated Google's proactivity in battling misinformation and conveying necessary precautions about COVID-19.
Pichai briefed the PM about new products and initiatives by Google in the country, including the launch of AI Research Lab in Bengaluru, while also highlighting the benefits of Google's flood forecasting efforts.
Other areas of discussion were the progress in digital payments, expanding the scope of online education, providing access to technology in the native language, and the use of AR/VR to allow a stadium-like viewing experience in sports.