Google to give Rs 109 crore to support SMBs in India – The Economic Times

Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/google-to-give-rs-109-crore-to-support-smbs-in-india/articleshow/81084841.cmsSynopsis

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

NEW DELHI: Google on Wednesday said it would give $15 million (nearly Rs 109 crore) to support small and micro enterprises in India in the face of Covid-19 pandemic.

The investment is part of the $75 million commitment from Google 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.

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

When the pandemic hit last year, Google 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 tech giant said.

In July last year, the company’s CEO Sundar Pichai announced a Google for India digitisation fund through which, the company will invest Rs 75,000 crore or approximately $10 billion 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 said during the ‘Google for India’ virtual conference.

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