Monday, the Mountain View, CA-based world’s No. 1 internet service provider, Alphabet Inc.-owned Google LLC., had issued a statement saying that the tech conglomerate was going to spend a whooping upsum of $10 billion in India over the next five to seven years through a swathe of measures ranging from equity investments to potential mergers, bolstering its footprint further into a key growth market.
Aside from that, Google LLC.’s latest announcement, that remarked the Mountain View-based tech conglomerate’s biggest commitment to any key growth market, came against the backdrop of a border clash between the Indian soldiers and the Chinese border guards over a disputed territory in the North-western Himalayan region, which in effect had rekindled a long-standing rivalry between the two nuclear-powered nations amid a nearly two-year long Sino-US trade spat.
Google to invest $10 billion in India though a so-called digitalization fund
The CA-based internet advertisement industry mogul had also told in tandem at its Monday statement that the investments would be placed through a so-called digitalization fund, while industry analysts were quoted saying that the move had largely underscored the tech titan’s focus on the rapid pace of development of apps and software platform in India, a home to one the world’s largest internet services markets.
Meanwhile, adding that the latest Google move to invest $10 billion in India had been the largest thus far from the world’s biggest internet services provider, speaking on a webcast during an annual “Google for India” event, the Indian-borne Alphabet Inc.
CEO Sundar Pichai said on Monday, “We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investment. This is a reflection of our confidence in the future of India and its digital economy.
” Concomitantly, followed by the webcast, the Alphabet Inc. CEO Sundar Pichai who had joined Google back in the 2004s, said in an interview with a press agency, “We’re particularly focused on making sure the internet expands beyond English and other vernacular languages.
That’s an important angle we’ve looked at,” suggesting a long-standing expansion strategy of the US-based Google LLC. into the Indian technology market.