New Delhi: Google said on Monday it will invest $10 billion in India over the next five to seven years as it battles rivals like Facebook and Amazon in the vast market of 1.3 billion consumers.
Chief executive Sunder Pichai told a virtual Google in India event that its fund would help "accelerate India´s digital economy" and will include investing in local firms and infrastructure in areas like digital payments, education and health.
"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," Pichai said.
"But times of challenge can lead to incredible moments of innovation," Indian-born Pichai said according to a transcript of his remarks released by the US search engine giant. Foreign firms have spent tens of billions of dollars in India in recent years as they fight for a piece of the Asian giant´s burgeoning digital economy.
This has included only this year around $16 billion in investments from Facebook, Intel and others in stakes in the digital services unit of Jio, controlled by Asia´s richest man Mukesh Ambani.
Sheikh argued that the government should have maintained stable petroleum prices
MARI has successfully drilled and tested the third appraisal well in the Ghazij formation in the Mari D&PL
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A man counts US dollars in a money exchange shop in Dhaka. — AFP/FileLAHORE: The first thing that the government...
Power generation stood at 8,741 gigawatt-hours or 11,749 megawatts in March