Tech giant Google has announced to invest over ₹75,000 crore ($10 billion) in India through equity investments and tie-ups over a period of 5-7 years.

Google CEO Sundar Pichai made the announcement today at ‘Google for India’ virtual event.

Today at #GoogleForIndia we announced a new $10B digitization fund to help accelerate India’s digital economy. We’re proud to support PM @narendramodi’s vision for Digital India – many thanks to Minister @rsprasad & Minister @DrRPNishank for joining us. https://t.co/H0EUFYSD1q

— Sundar Pichai (@sundarpichai) July 13, 2020

Addressing Google for India event, Pichai stated that the latest move is a reflection of the company’s confidence in future of India and its digital economy.

“Today, I am excited to announce Google for India digitisation fund. Through this effort, we will invest ₹75,000 crore or $10 billion in India for next 5-7 years,” Pichai said.

Investments will focus on 4 key areas of India’s digitisation. This includes:

1) Enabling affordable access and information to every Indian in their own language

2) Building new products as well as services relevant to India’s unique needs

From enabling access to empowering businesses to creating new products and services, Sundar Pichai talks about the areas of Google's investment in India's digitisation, at #GoogleForIndia.

Watch the livestream now ➡️ https://t.co/91wWrg5Vom#G4IN pic.twitter.com/RmdfWRUmkn

— Google India (@GoogleIndia) July 13, 2020

3) Empowering businesses as they continue to embark in digital transformation

4) Leveraging technology and AI (Artificial Intelligence) for areas like education, healthcare, and agriculture.

Before Pichai made the announcements, he also had a video-conference with India’s PM Narendra Modi to discuss Google’s ideas for India’s digital future.

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