PM Modi in US: Google to set up its global fintech operations centre at GIFT City: CEO Sundar Pichai | Mint
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Business News/ Technology / PM Modi in US: Google to set up its global fintech operations centre at GIFT City: CEO Sundar Pichai

PM Modi in US: Google to set up its global fintech operations centre at GIFT City: CEO Sundar Pichai

Google CEO Sundar Pichai announced that the company will establish its global fintech operation centre in GIFT City, Gujarat, during a meeting with Indian Prime Minister Modi. Pichai also stated that Google will continue to invest in India through its $10 billion India Digitisation Fund.

Sundar Pichai, chief executive officer of Alphabet. (Image: Reuters)Premium
Sundar Pichai, chief executive officer of Alphabet. (Image: Reuters)

After meeting Prime Minister Modi in US, Google CEO Sundar Pichai said that the internet giant will will set up its global fintech operation centre at GIFT City in Gujarat.

Pichai also said that his company continues to invest in India though its $10 billion India Digitisation Fund.

PM Modi's US visit LIVE updates

Modi is visiting the US from June 21 to June 24 at the invitation of President Joe Biden and First Lady Jill Biden. Besides Pichai, the prime minister also had an interaction with top CEOs including Microsoft CEO Satya Nadella, Apple CEO Tim Cook, OpenAI CEO Sam Altman, and AMD CEO Lisa Su, among others.

Also Read: PM Modi's Egypt mosque visit holds significance for Indian Dawoodi Bohra Muslims. Explained

"Today we are announcing the opening of our global fintech operations centre in GIFT City, Gujarat. It will cement India's fintech leadership, thanks to UPI, and Aadhaar. We are going to build on that foundation and take it globally," Pichai said as quoted by PTI.

The Indian-origin CEO said it is exciting to see the progress that the country has made, particularly around the vision of Digital India and the economic opportunity. Furthermore, he also added that the PM Modi's vision for Digital India was ahead of its time. "I now see it as a blueprint that other countries are looking to do so," Pichai said.

"I met the prime minister in December, and we continued our conversation. We shared that Google is investing $10 billion in the India digitisation fund and we are continuing to invest through that, including in companies working on artificial intelligence. As part of that, we have a 100-language initiative. We are bringing bot to more Indian languages very soon," Pichai said.

The ministry of external affairs in a tweet said Prime Minister Modi invited Pichai to explore further avenues of collaboration in the domains of artificial intelligence, fintech, and cybersecurity products and services, as well as mobile device manufacturing in India.

They also discussed collaboration between Google and academic institutions in India to promote research and development, and skill development, the ministry added.

In July 2020, Google had announced plans to invest $10 billion in India over next five to seven years as the search giant looks to help accelerate adoption of digital services in the key overseas market.

During his visit to India in December last year, Pichai had announced that a part of the India Digitisation Fund (IDF) is increasingly focusing on startups from India and one-fourth amount of $300 million from the fund will be invested in entities that are led by women.

Google had announced a collaboration with Bengaluru-based Indian Institute of Science to collect speech data from 773 districts across India to fine-tune its language translation and search technology. The internet major had also announced a grant of $1 million to set up India's first responsible artificial intelligence centre at IIT Madras and $1 million grant via Google.Org to Wadhwani AI towards using advanced technology for better agricultural outcomes.

(With inputs from PTI)

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Published: 24 Jun 2023, 06:23 AM IST
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