Google for India is always a really special time, and I only wish I could be there in person.One of the challenges of this moment is that we can’t visit the people we love, or the places we call home. During this time, the ability to be online has been a lifeline to so many of us: whether you’re a small business trying to stay afloat…a parent looking for updates on how to keep your family healthy…or a student trying to keep up with your studies. Being helpful in these moments is at the core of Google’s mission to organize the world’s information and make it universally accessible and useful.
Indian small businesses go digital
One of the most exciting success stories has been the digitization of
small businesses. Just four years ago, only one-third of all small businesses
in India had an online presence. Today, 26 million SMBs are now discoverable on
Search and Maps, driving connections with more than 150 million users every
month. What’s more, small merchants across the country are now equipped to
accept digital payments. This has made it possible for more small businesses to
become part of the formal economy, and it improves their access to credit.
The global pandemic has supercharged the adoption of digital tools. Digital payments, for example, have enabled families across India to access goods and services during lockdowns. For them, grocery delivery services have been invaluable—though I’m sure my grandmother misses haggling over the price of her vegetables in person.
Of course, all this progress was only possible because of a
strong foundation of digital connectivity. Thanks to Prime Minister Modi’s
vision for Digital
India, the country has made huge progress in getting a billion
Indians online. Low-cost smartphones combined with affordable data, and a
world-class telecom infrastructure, have paved the way for new opportunities.
At Google, we’ve been proud to be a partner in India’s digitization journey since 2004, when we opened our first offices in Hyderabad and Bangalore. In those days, our focus was on getting helpful and relevant information to Indian users through Search, whether they were searching for their favorite Bollywood star or cricket scores.
From there, we spread awareness of the Internet in rural villages through programs like Internet Saathi. It’s helped more than 30 million women across India gain digital skills to improve their lives and their communities.
Google’s efforts in India have deepened our understanding of how technology can be helpful to all different types of people. Building products for India first has helped us build better products for users everywhere.
A recent example is GPay, our fast, simple way to pay contactless or online. Together with the rise in BHIM-UPI adoption, GPay makes it easy to pay the rickshawala, or send money to family back home. India is setting the global standard on how to digitize payments, and it’s now helping us build a global product.
Our AI-powered reading tutor app Bolo, now called Read Along, is another example of a technology built specifically for Indian users. Last year I visited with students in Mumbai who were using the app to learn to read on their own. It was amazing to see their excitement when they read a new word in Hindi for the first time. It received such positive reception, we’re rolling it out to the rest of the world—now children in 180 countries can learn to read in nine languages, with more to come.
And our AI flood forecasting system was designed
to keep people safe during India’s monsoon season. I’ll never forget how the
2015 floods in Chennai impacted so many families. I’m hopeful that this
technology will bring greater peace of mind to the hundreds of millions of
people affected by floods each year around the world.
Our next chapter of investment: Google for India
Digitization Fund
These are just a few examples of how innovations that start in
India can benefit the rest of the world. But India’s own digital journey is far
from complete. There’s still more work to do in order to make the internet
affordable and useful for a billion Indians…from improving voice input and
computing for all of India’s languages, to inspiring and supporting a whole new
generation of entrepreneurs.
Over the years, we’ve invested in many Indian businesses through Google, as well as through our growth equity investment fund CapitalG.
Today, I’m excited to announce the Google for India Digitization Fund. Through this effort, we will invest ₹75,000 crore, or approximately $10 billion, into India over the next 5-7 years. We’ll 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 its digital economy.
Investments will focus on four areas important to India’s digitization:
· First, enabling affordable access and information for every Indian in their own language, whether it’s Hindi, Tamil, Punjabi or any other
·
Second, building new products and services that are deeply
relevant to India’s unique needs
·
Third, empowering businesses as they continue or embark on their
digital transformation
·
Fourth, leveraging technology and AI for social good, in areas
like health, education, and agriculture
As we make these investments, we look forward to working
alongside Prime Minister Modi and the Indian government, as well as Indian
businesses of all sizes to realize our shared vision for a Digital India.
There’s no question we are facing a difficult moment today, in India and around the world. The dual challenges to our health and to our economies have forced us to rethink how we work and how we live. But times of challenge can lead to incredible moments of innovation. Our goal is to ensure India not only benefits from the next wave of innovation, but leads it. Working together we can ensure that our best days are still ahead.
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