Wow! This is like a gust of fresh wind for India’s battered economy amid a long sweltering spell of Covid-19. Google to invest Rs 75,000 crore in India. Google CEO Sundar Pichai on Monday said that the investment will be made over a period of five to seven years through a mix of equity investment, ecosystem investments and partnerships.
Excited to announce Google for India Digitisation Fund. Through it, we'll invest Rs 75,000 Cr or approx US$10 Bn into India over next 5-7 yrs.We'll do this through mix of equity investments,partnerships&operational infrastructure in ecosystem investments: Google CEO Sundar Pichai pic.twitter.com/HSDm0EDcty
— ANI (@ANI) July 13, 2020
According to a report by ThePrint, the investment by Google is a mutually-beneficial initiative. This will ensure India’s digital growth as well as promote Google’s own products. You must have read or heard about all these till this far. But how will this $10 billion-investment impact the commoners?
Here’s how you can benefit from Google’s investments in five points
1. It is a great opportunity for those in education sector
If you are a teacher, then this is great news for you. Besides announcing Rs 7,00 crore investment for India’s digital growth, Google on Monday declared that the internet giant will develop partnerships with the Central Board of Secondary Education at Google for India event’s sixth edition. Under this plan, Google will train over 1 million teachers from 22,000 schools across India to deliver blended education.
Now don’t think this initiative is part of Google’s $10 billion investment plan, rather it is an additional plan just to cater to those who belong to the education sector. The plan involves developing digital learning, distance learning, teachers’ training among other such initiatives. In the post-Covid world, these will be the essential elements of teaching and learning. To know more, click here.
2. Small traders to avail of tech support to grow their businesses
Google’s investment will offer great help to small traders, entrepreneurs and those associated with the MSME sector of India. Not only this will empower their digital transformation journey, small traders will also gain online visibility which comes with a promise of profit. So for example, if you are running a small eatery, a medical store or a night shelter, you can get your ventured enlisted on Google Maps to reach out to the larger audience. Google is aiming to launch their products in multiple languages so that it can cater to people with varied backgrounds. To know more about how small traders can benefit from Google, click here.
3. The investment will create employment in various fields
Google’s popular product, Google Pay, which has emerged as a huge blessing for all of us to ensure cashless and no-touch transactions, has added a Job Spot feature on it. Through this feature, you can search for remote job listings and remote interviews. We know how important and useful this Google product is as millions of Indians have lost their jobs amid Covid-19 crisis. This will not only help Indian workers to be familiarised with the internet, online search and application for jobs, it will also enhance their skills to opt for better jobs with better pay. So with Google investing a large sum of money to ensure India’s digital growth, job seekers are at an advantageous position. To know more about Job Spot on Google Pay, click here.
4. Agriculture and health sectors to benefit a lot from this
During the virtual meeting between the Google CEO and the Indian government, both the parties agreed that there is immense scope for Google to apply artificial intelligence and undertake new initiatives in the sectors of agriculture, health, weather prediction. Right from developing weather apps, market apps and soil information websites in local languages to connecting to retailers over many online channels, Google can help flourish the country’s agriculture sector. This has already happened in the US. To know more click here.
Google’s healthcare measures are creating wonders for patients, doctors, researchers and others associated with the health sector. The company’s diagnostic tools and Cloud capabilities among other features can improve patients’ care to a large extent. Google’s various healthcare initiatives prevent late or misdiagnosis and patients’ wait time. So those of you related to this field, can witness a massive change, especially in the post-Covid world. To know more about Google’s healthcare services, click here.
5. A big step toward’s India’s $5 trillion economy vision
Pichai on Monday said that Google sees a huge opportunity in Digital India and it is excited about it. The internet giant seems to be getting a good grip in India’s digital space. The Indian government, on the other hand, looks to cross $1 trillion digital economy in the next two years, thanks to online shopping and growth of various e-commerce platforms.
This morning, had an extremely fruitful interaction with @sundarpichai. We spoke on a wide range of subjects, particularly leveraging the power of technology to transform the lives of India’s farmers, youngsters and entrepreneurs. pic.twitter.com/IS9W24zZxs
— Narendra Modi (@narendramodi) July 13, 2020
“However, the stiff regulatory regime for online layers with foreign direct investments has slashed the growth in recent times,” reports the Economic Times. Covid-19 shattered India’s will to come back stronger in this front. We all know how it damaged the economy with one of the stringent and lengthy lockdowns of the world. A strong digital ecosystem is key to India’s $5 trillion economy vision and Pichai’s announcement has paved the way for that. To know more about the connection between the digital ecosystem and India’s economy, click here.
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