CEO Sundar Pichai announced the investment via the livestream Monday at the Google annual meeting ( GOOGL ) for the India event. “It reflects our confidence in the future of India and its digital economy,” he said in a statement.

“India’s own digital journey is far from over. There is still work to be done to make the Internet affordable and useful for a billion Indians … from improving voice input and computing for all languages ​​in India to inspiring and supporting the whole new generation of entrepreneurs, “he added.

Google for India Digitization Fund will pour money into the Indian tech sector over the next five to seven years through a mix of equity investments, partnerships and infrastructure spending.

The investment will aim to enable all Indians to access and access affordable information in their own language, create new products and services that meet India’s unique needs, help businesses transform digitally and leverage technology and artificial intelligence for social good, in areas like health, education. and agriculture.

“As we make these investments, we look forward to working alongside Prime Minister [Narendra] Modi and the Indian government, as well as Indian businesses of all sizes to achieve a shared vision for a digital India,” said Pichai. Our goal is to ensure that India not only benefits from, but leads the next wave of innovation. “