Google sets up India fund, plans to invest $10 bn over 5-7 yrs

US TECH giant Google said on Monday that it has set up a ‘Google for India Digitisation Fund’, through which it will invest $10 billion in the country over the next five to seven years through a mix of equity investments, partnerships, operations, infrastructure and ecosystem investments.

The announcement comes close on the heels of New Delhi signalling curbs on Chinese technology investments and banning 59 mobile apps with links to Chinese technology majors such as Alibaba – one of the largest Chinese investors in Indian startups.

Google’s investment plan includes a renewed “focus on bringing more high-quality low-cost smartphones to enable Internet access”.