Google plans to invest ₹75,000 crore in India to boost digital economy

Technology giant Google has announced that it plans to invest over ₹75,000 crore($10 billion) in India over a period of 5-7 years. Google and Alphabet CEO Sundar Pichai made the announcement today at ‘Google for India’ virtual event. The Google’s investment in India will be made through equity investments and tie-ups, marking its biggest commitment to a growth market.

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It’s hard to be the next China, not impossible

In the 1960s, Japan and Europe exported their way to post-World War II prosperity under the fixed exchange rates of the Bretton Woods agreement. The U.S. went off the gold standard in 1971, but the established way of doing things didn’t collapse. Thirty years later, China essayed the role of being the world economy’s periphery and selling cheap widgets to a revamped core — the West and Japan — with the help of an undervalued exchange rate.

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Modi’s Gold Monetisation Scheme: SBI collects thousands of kg gold

In an effort to put to productive use the gold lying idle with households and trusts, State Bank of India has mobilised 13,212 kg gold through the Gold Monetisation Scheme (GMS). SBI collected 3,973 kg of gold in the last financial year under the GMS programme, launched by the Narendra Modi-government to utilise gold lying idle with individuals as well as trusts, according to SBI’s annual report. With the collection of the last fiscal, the total gold reserves of SBI has crossed over 13,000 kg. Prime Minister Narendra Modi launched the GMS in November 2015 to cut India’s import bill and use the idle lying gold for productive purposes.

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Border clash: Chinese investors might not completely tighten purse strings for Indian startups

Money has no colour particularly for startups that survive and thrive on it irrespective of the country and region it comes from. This thought fits even better in the context of early or seed-stage startups for whom revenue is zero or negligible. They remain vulnerable to market dynamics and often dance to the tune of investors. The biggest backers for such ‘enterprising’ businesses in India have been investors largely from the US, Japan and China. Barring the first two, investments from China for Indian startups have the cat and mouse game in the backdrop played by the two Asian giants politically, militarily and economically. But would the latest skirmish between armed forces at the Galwan valley have any bearing on startup funding in India? Limited, said experts Financial Express Online spoke to.

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