Google to invest Rs 109 crore to support small and micro enterprises in India – Business Today

This investment is a part of Google's $75 million commitment to help small businesses outside of the US

Google on Wednesday said it would invest $15 million (around Rs 109 crore) to support small and micro enterprises in India in the wake of the COVID-19 pandemic. This investment is a part of Google's $75 million commitment to help small businesses outside of the US.

"In India, we will invest $15 million to support small and micro enterprises across the country and are in discussions with local partners," the company said in a statement.

When the coronavirus pandemic hit last year, the American tech company had announced a $200 million investment fund as part of its more than $800 million commitment to support small businesses.

"Google has had a special relationship with small businesses around the world, helping them scale, innovate and reach new customers. With today's announcement, we're proud to help them meet a new challenge, accessing capital needed to recover and build resiliency for the future," the company said.

Google is working with non-government partners who have a record of providing resources to businesses that are generally overlooked by traditional lenders.

Last year, Google's CEO Sundar Pichai had announced a Google for India digitisation fund through which the company would invest Rs 75,000 crore over the next five to seven years to help India go digital.

"We will do this through a mix of equity investment, partnerships and an operational infrastructure ecosystem in India. This is a reflection of our confidence in the future of India and its digital economy," Pichai was quoted as saying.

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Google to invest Rs 109 crore to support small and micro enterprises in India - Business Today