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July 13, 2020

Google launched G4India, $10 billion fund to digitize india


A new Rs 75,000-crore fund has been announced by Google to help accelerate India's digital economy, its Chief Executive Officer Sundar Pichai said today, asserting that "we are proud to support" Prime Minister Narendra Modi's vision. "Today at #GoogleForIndia we announced a new $10B digitization fund to help accelerate India's digital economy. 

We're proud to support PM @narendramodi's vision for Digital India - many thanks to Minister @rsprasad & Minister @DrRPNishank for joining us," the 48-year-old Google CEO wrote in a tweet. 

Meanwhile G4IN was trending on Google today . A majority of India's digital population accessed the internet via their mobile phones. In 2018, about 29 percent of the country's total population were mobile internet users, and this was expected to grow to over 35 percent, or approximately 500 million users by 2023. India's internet users registered double digit growth to reach 627 million in 2019, driven by rapid internet growth in rural areas, according to market research agency Kantar IMRB

Internet usage in the country has exceeded half a billion people for first time,driven by rural internet growth and usage. India continues to be the world’s second-largest internet market after China. But what makes it more irresistible to Silicon Valley companies is that it also happens to be the largest untapped internet market in the globe. 

With close to 900 million people without internet connectivity still, there’s little doubt that the Next Billion Users are going to come from India.The introduction of the government’s Digital India initiative hand in hand with the increasing internet penetration over the recent years, resulted in the country’s digital population amounting to approximately 688 million active users as of January 2020

The traffic in the world’s second largest internet market at this stage was largely dominated by mobile internet users.The arrival of Reliance Jio services in 2007, provided people in the country with schemes and subsidies that were not only attractive, but easily affordable, irrespective of their income levels and socio-economic classes. The impact was almost instant, with over 60 percent of the mobile data traffic coming from Jio services in less than ten years of its launch. 

The future holds greater promise The number of internet users had increased over the years in rural as well as the urban areas . It seemed likely from previous trends that the launch of the Jio fixed line broadband service, called Gigafiber might aid in the already increasing internet penetration across the country. Along with the demonetization in late 2016, digitization penetrated the country at a staggering rate, nearly 50 percent in 2019.