Google to Set Up Its Global Fintech Operation Centre in Gujarat

Internet large Google will arrange its world fintech operation centre at GIFT City in Gujarat, its CEO Sundar Pichai mentioned on Friday after assembly Prime Minister Narendra Modi right here.

Pichai additionally mentioned that his firm continues to spend money on India although its USD 10 billion (roughly Rs. 81,980 crore) India Digitisation Fund.

Modi is visiting the US from June 21 to June 24 on the invitation of President Joe Biden and First Lady Jill Biden. Besides Pichai, the prime minister at an interplay with prime CEOs additionally met Microsoft CEO Satya Nadella, Apple CEO Tim Cook, OpenAI CEO Sam Altman, and AMD CEO Lisa Su, amongst others “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 mentioned.

The Indian-origin CEO mentioned it’s thrilling to see the progress that the nation has made, notably across the imaginative and prescient of Digital India and the financial alternative.

“I met the prime minister in December, and we continued our conversation. We shared that Google is investing USD 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 mentioned.

He mentioned that the prime minister’s imaginative and prescient for Digital India was forward of its time. “I now see it as a blueprint that other countries are looking to do so,” Pichai mentioned.

The ministry of exterior affairs in a tweet mentioned Prime Minister Modi invited Pichai to discover additional avenues of collaboration within the domains of synthetic intelligence, fintech, and cybersecurity services, in addition to cellular machine manufacturing in India.

They additionally mentioned collaboration between Google and tutorial establishments in India to advertise analysis and improvement, and ability improvement, the ministry added.

In July 2020, Google had introduced plans to take a position USD 10 billion in India over subsequent 5 to seven years because the search large appears to be like to assist speed up adoption of digital companies in the important thing abroad market.

During his go to to India in December final yr, Pichai had introduced that part of the India Digitisation Fund (IDF) is more and more specializing in startups from India and one-fourth quantity of USD 300 million from the fund will likely be invested in entities which are led by ladies.

Google had introduced a collaboration with the Bengaluru-based Indian Institute of Science to gather speech knowledge from 773 districts throughout India to fine-tune its language translation and search know-how.

The web main has introduced a grant of USD 1 million (roughly Rs. 8,300 crore)  to arrange India’s first accountable synthetic intelligence centre at IIT Madras and a USD 1 million grant through Google.Org to Wadhwani AI in the direction of utilizing superior know-how for higher agricultural outcomes.