On Friday, 23rd June 2023, Google made a momentous commitment to India’s digital future by announcing a $10 billion investment in the country’s digitisation fund. During a meeting between Google CEO Sundar Pichai and Prime Minister Narendra Modi, Pichai expressed admiration for India’s fintech leadership and pledged support to small and large businesses not just in India but also worldwide.
As part of this initiative, Google revealed plans to establish its global fintech operation centre in Gandhinagar’s Gujarat International Finance Tec-City (GIFT). The announcement signifies Google’s recognition of India’s potential and its intention to contribute significantly to the nation’s growth in the fintech sector.
During the meeting, Pichai expressed his appreciation for Prime Minister Modi’s vision of a Digital India, acknowledging it as a blueprint that other countries are looking to emulate. The opening of the Google Fintech Global Operations Center in GIFT City, Gujarat, is expected to play a vital role in supporting operations related to GPay and other Google products. By investing in India’s fintech ecosystem, Google demonstrates its confidence in India’s expanding role on the global technology stage and reinforces its commitment to empowering both local and international businesses.
Sundar Pichai said, “It was an honour to meet Prime Minister Modi during the historic visit to the US. We shared with the Prime Minister that Google is investing $10 billion in India’s digitisation fund.”
He added, “We are announcing the opening of our global fintech operation centre in GIFT City, Gujarat. PM’s vision for Digital India was way ahead of his time I now see it as a blueprint that other countries are looking to do.”
After the meeting between Modi and Pichai concluded, a spokesperson of Google said in an interaction with the news agency PTI, “Google today announced that it will open a Google Fintech Global Operations Center in GIFT City, Gujarat, with teams working on specialised operations supporting GPay and other product operations at Google.”
He added, “This recognises India’s leadership on fintech and will support small and large businesses in India, the US and around the world. Google has been operating in India since 2004, with offices in five key cities across the country with thousands of talented employees. We currently have offices in Bangalore (Bengaluru), Hyderabad, Gurgaon – Delhi NCR, Mumbai and Pune.”
In 2020, Google showcased its confidence in India by announcing the Google for India Digitisation fund, pledging $10 billion (approximately Rs 75,000 crores) with a focus on enabling affordable access, developing services tailored to India’s unique needs, empowering businesses on their digital transformation journey, and utilizing technology and AI for the greater good.
The Google AI Research Center in Bengaluru is actively working on building models to support over 100 Indian languages, while collaborations with esteemed institutions like the Indian Institute of Science and IIT Madras are focused on responsible AI development and supporting initiatives such as the open-sourcing of speech data through India’s Bhashini project.
Additionally, Google Cloud has been pivotal in supporting businesses and governments in their cloud adoption, playing an integral role in India’s digital transformation. Leading Indian enterprises and unicorns, including Jio, Adani, Mahindra Group, Sharechat, HDFC Bank, Glance Roposo, and many others, are already benefiting from Google and AI offerings. To cater to the growing demand, Google Cloud has established two cloud regions in Delhi NCR and Mumbai, further solidifying its commitment to the Indian market.
The technology giant’s investment and strategic initiatives underscore the immense potential and capabilities that India possesses. As one of the world’s largest tech companies, Google’s commitment to India’s digitisation journey will undoubtedly contribute to the nation’s economic growth and technological advancements, and position India as a global leader in the digital landscape.
