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Internet behemoth Google has informed Prime Minister Narendra Modi that it will contribute USD 10 billion to India’s digitization fund. This move will acknowledge India’s leadership in the fintech sector and will benefit both small and large firms in India, the US, and other countries.

In addition to announcing the establishment of Google’s global fintech operation hub in Gandhinagar’s Gujarat International Finance Tec-City (GIFT), Pichai met with Prime Minister Modi here on Friday.

“Meeting Prime Minister Modi during his historic tour to the US was an honor. Google’s USD 10 billion investment in India’s digitization fund was disclosed to the Prime Minister, Pichai added.

The launch of our global fintech operation center in Gujarat’s GIFT City is being announced. I now see the PM’s vision for Digital India as a pattern that other nations are eager to follow, he continued.

According to a Google spokeswoman who spoke to PTI, “Google today announced that it will open a Google Fintech Global Operations Centre in GIFT City, Gujarat, with teams working on specialized operations supporting GPay and other product operations at Google.”

The spokesperson noted that the move would assist both small and large enterprises in India, the US, and other countries after the meeting between Pichai and the Prime Minister.

Since 2004, Google has had operations in India, with offices in five major cities and hundreds of brilliant staff members. According to the spokesman, we now have offices in Bangalore (Bengaluru), Hyderabad, Gurgaon – Delhi NCR, Mumbai, and Pune.

In 2020, Google announced the Google for India Digitization fund, a pledge to invest USD 10 billion (about Rs 75,000 crores) with a focus on four areas. This announcement deepened Google’s commitment to India and demonstrated its confidence in India’s expanding importance in the global technological arena. First, provide every Indian with inexpensive access to knowledge in their tongue. The second is developing fresh services that are pertinent to India’s particular demands. enabling companies as they start their digital transition, third. Fourth, using artificial intelligence (AI) and technology for social betterment.

Google also announced support for Early Stage enterprises with a specific focus on women-led enterprises under the India Digitization fund at the end of the previous year.

The Google AI Research Centre in Bengaluru is developing models to support over 100 Indian languages and collaborating with the Indian Institute of Science to facilitate open sourcing of speech data through India’s Bhashini project as a way of advancing India’s journey towards digital transformation.

To create a multidisciplinary Centre for Responsible AI, it has also teamed up with IIT Madras.

Google Cloud has been playing a crucial role in delivering cutting-edge cloud technologies to India and being a part of India’s digital transformation path with a focus on supporting businesses and governments to run on the cloud.

The Google Cloud and AI solutions are now helping India’s largest businesses and unicorns, including Jio, Adani, Mahindra Group, Sharechat, HDFC Bank, Glance Roposo, and countless others. According to a press release, Google Cloud now has two cloud zones in Delhi NCR and Mumbai, respectively, to accommodate this rising demand.

According to Tapan Ray, MD & Group CEO of GIFT City, Google’s choice to locate its global fintech operations center at GIFT City is evidence of India’s rising stature in the fintech industry.

“The strategic announcement made by Google CEO Sundar Pichai during Hon’ble Prime Minister Shri Narendra Modi’s US visit is a win-win situation. It will significantly advance the realization of our Honourable PM’s goal of establishing GIFT City as a truly international fintech center.

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