Google’s Game Plan in India

Google’s $10 Billion Initiative

Yesterday, Google (GOOGL) unveiled a plan to invest $10 billion in India’s digital economy over the next five to seven years. The program, called the Google for India Digitization Fund, will focus on four key areas:

For starters, the initiative will give people in India more access to information in their preferred languages. These languages include Hindi, Tamil, Punjabi, and others. Google has already developed voice command capabilities for several Indian languages.

Google also wants to help Indian businesses both large and small integrate technology into their operations. The company has also made plans to use AI and other technology to improve healthcare, education, and agriculture in India.

Lastly, Google plans to build products and services that will cater to India’s unique needs. Google has already created versions of apps that use less data and allow videos to be downloaded and watched later for people who have limited access to wifi. Google also added motorcycle and scooter directions on Google maps, since these transportation methods are popular in India. The company plans to continue developing technology that will be specific to Indian people’s needs.

Other Tech Companies Race to Invest in India

About half of India’s 1.3 billion people are not yet online, but that is rapidly changing. Google is not alone in trying to gain a foothold in the Indian market at this important moment. Tech companies around the world are pouring investments into the country’s digital economy.

Facebook (FB) recently invested $5.7 billion in Reliance Jio Platforms, India’s largest telecom operator. With capital from Facebook and other high-profile international investors, Reliance Jio is helping digitize 60 million Indian small businesses. Amazon (AMZN) has also invested a total of $5.5 billion in India, much of which is going toward digitizing local businesses.

Tensions With China

Chinese tech companies have also been angling to be a part of India’s digitization. However, last month, the Indian government banned 59 apps and services created by Chinese companies. These included TikTok, by ByteDance, Alibaba’s (BABA) UC Browser, and WeChat, developed by Tencent (TCEHY).

This means that American tech companies in India will face less competition from Chinese companies. However, American tech companies have largely been banned from China. For example, Google recently had to cancel plans to offer a new cloud service in the country. Because China is largely unavailable to Google and other American tech giants, they are even more eager to gain ground in India.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Advisor
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT SoFi SoFi helps people achieve financial independence to realize their ambitions. Our products for borrowing, saving, spending, investing, and protecting give our more than one million members fast access to tools to get their money right. SoFi membership comes with the key essentials for getting ahead, including career advisors and connection to a thriving community of like-minded, ambitious people. For more information, visit Want an easy and convenient way to manage your financial life? Get the SoFi app. For iOS and Android.

TLS 1.2 Encrypted
Equal Housing Lender