CEO Sundar Pichai announces Google’s plans to establish global fintech operations center at GIFT City during PM Modi’s US visit

After a meeting with Prime Minister Modi in the US, Google CEO Sundar Pichai announced that the internet giant will establish its global fintech operation center at GIFT City in Gujarat.

Pichai also confirmed that Google will continue investing in India through its $10 billion India Digitization Fund.

During his visit to the US, Prime Minister Modi had discussions with several top CEOs, including Sundar Pichai, Satya Nadella, Tim Cook, Sam Altman, and Lisa Su.

Speaking about the new fintech operations center, Pichai stated, “Today, we are announcing the opening of our global fintech operations center in GIFT City, Gujarat. This will solidify India’s position as a leader in the fintech industry, thanks to initiatives like UPI and Aadhaar. We will build upon this foundation and take it globally.”

The Indian-origin CEO praised the progress made by India in digital transformation, particularly in achieving the vision of Digital India and the economic opportunities it has created. He also acknowledged that PM Modi’s vision for Digital India was ahead of its time and is now being emulated by other countries.

Pichai disclosed that Google is investing $10 billion in the India Digitization Fund, with a focus on supporting AI startups. He also mentioned Google’s 100-language initiative, aimed at expanding the availability of AI bots in various Indian languages.

The Ministry of External Affairs tweeted that PM Modi invited Pichai to explore further collaborations in areas such as artificial intelligence, fintech, cybersecurity, and mobile device manufacturing in India. They also discussed partnerships between Google and Indian academic institutions for research, development, and skill enhancement.

In July 2020, Google announced its plans to invest $10 billion in India over the next five to seven years to promote digital services in the country. During Pichai’s visit to India in December of the same year, it was revealed that a portion of the India Digitization Fund would be devoted to supporting women-led startups.

Google has also collaborated with the Indian Institute of Science in Bengaluru for data collection purposes and has made grants towards establishing India’s first responsible artificial intelligence center at IIT Madras and using advanced technology for agricultural improvements through Wadhwani AI.

(With inputs from PTI)