Google is betting big on India. It would have been obvious when its CEO, Indian-born Sundar Pichai, announced his company's commitment to invest $10 billion over 5-7 years. And when you listen to him explain his business plans in detail, you understand that there is a business strategy and a social vision in the Google system in India. "We are trying to develop apps in India. We want to invest in companies that do," Sundar Pichai told the Economic Times. Asked how Google intends to spend the €10 billion fund, Pichai said his company is considering venture capital investment in small companies and is also buying large interests in large companies. "We'll certainly see both, a combination of venture capital, we did it through Google Ventures in India and scaled it up this way, but given the size of the digitization fund, it's also possible to invest directly in larger companies. Both are in the mix, as well as infrastructure investments (such as) data centers. We expect a large part of this (fund) will be invested in Indian companies." In any case, Google had previously invested in some Indian companies. And they also include certain acquisitions. Dunzo, Fynd (he's gone now), Halli Labs, Where's My Train? And through Capital G (formerly Google Capital, and it helps companies grow faster by advising them), Google advises companies like Practo, Cardekho, Aye Finance, CommonFloor, Cuemath, Freshworks.
Google also makes local voices heard
The foundation of the country, the strong interest in technology, that I feel every time I come there. From the Prime Minister's Office, having defined a vision for digital India, all these factors are unique. Google CEO The popular mood in India, for various reasons, is to go local with a vengeance. Google seems to understand this, and Pichai says his company will use local talent and infrastructure to keep growing. "India has local talent, access to a large market, a strong business and venture capital base to do that. As a company, we are attached to it. We are trying to develop applications in India. We want to invest in companies that are. We are delighted with this vision and we want to help play a small role in accelerating this trend," he said during the interview. Most importantly, Pichai believes that India offers a unique opportunity (unlike other countries like China). "The foundation of the country, the great interest in technology, which I feel every time I come here. From the Prime Minister's Office, having defined a vision for digital India, all these factors are unique, as is the size of the market". " "Thank you for your time PM @narendramodi, very optimistic about your vision for Digital India and delighted to continue our work in this direction. Later today we will share our next steps on this trip to # GoogleForIndia. July 13, 2020