7/16/2020 Why are Google, Facebook investing in India despite its economy — Quartz India

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India’s economy is in a terrible place, yet the world’s largest technology �rms can’tstop placing bets on the country.

On July 13, internet search major Google said it would invest $10 billion (Rs75,000crore) in India over the next �ve to seven years. The investments, according to CEOSundar Pichai, will be made in forging new partnerships, and in building strongerinfrastructure and ecosystems. The move “is a re�ection of our con�dence in thefuture of India and its digital economy,” the company said in a blog post.

Google’s commitment comes just months after US-based social networking giantFacebook invested $5.7 billion in Jio Platforms, the digital and internet subsidiary ofReliance Industries, to further its hold in “India’s vibrant digital economy.” And inJanuary, American e-commerce major Amazon had committed a $1 billion

LONG TERM THINKING

Why are Google and Facebook investing in Indiadespite its crisis-hit economy?

✦ Member exclusive by Niharika Sharma

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7/16/2020 Why are Google, Facebook investing in India despite its economy — Quartz India

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investment in India over the next �ve years. The Jeff Bezos-led company has alreadyinvested over $5.5 billion in India.