Sundar Pichai, the CEO of Tech- giant Google announced on Monday via Google for India virtual live-stream event, that it would be investing around $10 billion in the Indian economy. This will be done to boost the infrastructure and rejuvenate fragments of AI, new-age technology, and the digital arena into packaged circumferences.
Earlier in the day, Mr. Pichai had a thorough discussion on varied topics with Prime Minister Narendra Modi. Over the next five to seven years, the investment would help a self-reliant India to scale new heights. It comes as a perk to India as it has wanted to expand in every field to make itself self-sufficient in all spheres, be it physical, economical, or digital.
The announcement is particularly significant given the imminent gap in the country’s tech investment ecosystem following the Centre’s restriction on Chinese technology firms. Recently 59 Chinese apps were banned in India as a security measure against digital privacy breaches via secretive Chinese forces.
How will Google invest these $10 billion?
Mr. Pichai said, “We will do this through a mix of equity investments, partnerships and operational, infrastructure and ecosystem investments. This is a reflection of our confidence in the future of India, and it’s the digital economy.” The investments will be made through a mix of equity investments, partnerships, operations, infrastructure, and ecosystem investments. These include Google’s existing projects such as Internet Saathi, among others.
The investment will be made to enhance some key areas in terms of digital India. Some of these would be:-
- Making reasonably priced data accessible to people– India is the second-largest internet using country in the world. The data is also provided at cheaper rates as compared to many other countries in the world. The investment will focus on making information available to people in their own languages via better infrastructure. Out of 1.3 billion people, only approx. Five hundred million have access to the internet in India as of now, a boost in the digital industry would make this service more extensive, and people living in far off areas will be able to access all kinds of information quickly.
- Building new products and services relevant to information dissemination– Producing new products and services would not only make more information available to people but also would create employment opportunities here and reduce brain drain to a great extent.
- Empowering businesses for their digital transformation– due to COVID-19 caused lockdowns, all around the world, many companies have gone digital, including the companies that were never digitally active. ‘Work from home’ has become the new office hours, and a better tech infrastructure would ensure smooth business transactions.
- Development of health, education, and agriculture– These are the core sectors of any country. Agriculture \is the primary sector in which India works. So the advancement of technology and the advent of AI and AR would help run the course rapidly. AI-powered reading tutor app Bolo, aka Read-Along, would be launched here soon too. The health sector would also be aided by modern age technology systems to make healthcare more accessible.
However, the main focus of the investment would be to boost Artificial Intelligence, and it’s an application in boosting the sectors of weather forecasting and agriculture as these two need the most attention right now. The investment can positively result in the development and growth of the Indian economy, and also boost the digitisation into the market, which would lead to better productivity.
A history of Google’s investment in India
|November 1, 2013||Rs 3.13 crore||Sana Ventures in the seed funding round.|
|November 1, 2013||Rs 3 crore||Agastya International Foundation.|
|January 24, 2017||Rs 39 crore||online education portal CueMath|
|June 24, 2020||$27,500,000||Series E funding of a Gurugram-based company Aye Finance|
How will AI help in weather forecasting and agriculture?
Artificial intelligence and weather forecast
AI would be extensively used to make weather forecasting more accurate. Especially flood forecasts would be focused upon to take precautionary measures, make the authorities alert and evacuate the area if needed. Every year, thousands of people die, and lakhs get displaced due to natural calamities like floods. A hi-tech and advanced forecasting system would save everyone from looking at damage control measures.
India is an agrarian nation and requires extensive research and efforts to bring out the best products while ensuring benefits to farmers and the government. Every year, lakhs of farmers commit suicide due to the inadequacy of resources and finance as their crops are ruined due to unruly weather conditions. High age technology would ensure dissemination of adequate information regarding the land patterns, crop mapping, harvesting, and pricing to the farmers, which would provide them with the confidence to increase production.
CEO of Alphabet INC and subsidiary Google LLC, Sundar Pichai and Prime Minister Narendra Modi had interactions on a wide array of topics like how the world is going through a rough phase, and a lot of recalibration has to be done, how technology has registered itself so rapidly here that five years ago only 25 million Indian companies were working digitally, but that number has been increasing at a whopping rate since then. Work from home and digital tools have become the new talk in town. Entrepreneurs and educationists have taken over the premises and look promising to take India onto a new journey. Later, PM tweeted and informed that the discussion had been a fruitful one and the country looks onward to the opening of new horizons.