Google plans to invest $10 billion in India.

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Economic Times reports: “Google will invest $ 10 billion in India over the next five to seven years, the search giant’s boss Sundar Pichai told ET in an exclusive interview on Monday morning. Google will use this investment to buy stakes in large Indian companies as well as niche digital service providers”.
“The announcement signals the company’s intent to scale up the India operations and get a stronghold on the Indian digital ecosystem. This comes right after Reliance Jio has closed 12 rounds of funding in the last three months from marque investors including $ 5.7 billion from social media giant Facebook. Pichai said that as a company Google wants to commit itself to India and sees great opportunity for Digital India and is excited by it”.
“So building on our years of investment in India, we are launching a Google for India digitization Fund with a Rs 75,000 crore commitment which is $ 10 billion to be invested in India over the next five to seven years,” he said.

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