homebusiness Newscompanies NewsGoogle CEO Sundar Pichai unveils plans for fintech hub in GIFT City, Gujarat
Google CEO Sundar Pichai unveils plans for fintech hub in GIFT City, Gujarat
Prime Minister Modi convened a meeting with tech executives from the United States and India in Washington today. It was during this gathering that Pichai made the announcement.
Google CEO Sundar Pichai announced on Saturday (June 24) the opening of Google's global fintech operation center in GIFT City, Gujarat, during a meeting with Indian Prime Minister Narendra Modi in Washington, D.C. The move will cement India's fintech leadership position and leverage the success of the Unified Payments Interface (UPI) and Aadhaar, India's unique identification system.
"We are excited today that we are announcing the opening of our global fintech operation centre in GIFT City, Gujarat. It will cement India's fintech leadership, thanks to UPI and Aadhaar. And we are going to build on that foundation, and take it globally," Pichai said.
Expressing his honor to meet with Prime Minister Modi during the historic visit to the United States, Pichai commended the progress India has made, particularly in the realm of digital innovation and economic opportunities. He highlighted Google's commitment to India's digital transformation, with a total investment of $10 billion in the country's digitisation fund.
"I met the prime minister in December. We continued our conversation today. We shared with the Prime Minister that Google is investing $10 billion in India's digitisation fund."
Pichai emphasised that Google's investments in India will focus on artificial intelligence (AI) initiatives, including the development of technologies that support Indian languages. He mentioned plans to expand the availability of Google's AI-powered voice assistant, Bard, to more Indian languages in the near future.
Pichai expressed enthusiasm for the progress India has made in harnessing the power of AI and the exciting opportunities it presents for the country's advancement.
He pledged Google's support for Prime Minister Modi's vision of Digital India and recognised it as a blueprint that other nations are keen to emulate. The scaling up of India's digital ecosystem will be a crucial model for other countries, making it a significant topic of discussion at the upcoming G20 summit in India.
"PM’s vision for Digital India was way ahead of his time. I now see it as a blueprint for other countries. And the follow through on the scaling up of India's digital stake is a model for other countries. It will be something important in the G20 as well, which is obviously happening in India."
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