The GIDF focuses on digitizing the economy and building India-first products and services.
- The plan is in line with big-tech’s bullish outlook on India. Earlier this year, Amazon said it would invest an additional $1 billion in India.
- This was followed by a marquee investment announcement of $5.7 billion by Facebook in the country’s largest telecom company Reliance Jio.
- Last month, Microsoft’s venture fund M12 said it would open an office in India to pursue investment opportunities focusing on B2B software startups.
Arenas for partnership:
The investment will focus on four areas important to digitization including:
- Enabling affordable access and information for every Indian in their own language,
- Building products and services that are deeply relevant to India’s unique needs,
- Empowering businesses in their digital transformation journey and
- Leveraging technology and AI for social good, in areas like health, education, and agriculture.
Q) For India to attain the dream of digital India, building private partnerships is a prerequisite.
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