According to Google CEO Sundar Pichai, India will become a major export economy



Sundar Pichai, CEO of Google’s parent company Alphabet, has predicted that India will become a major export economy. Speaking at the Google for India event, Google CEO Eric Schmidt stated that India will benefit from an open and connected internet ecosystem, and that striking the right balance will be critical for India.

Pichai also stated that the company is focusing on Indian startups and will invest heavily in them. He stated that approximately one-fourth of its $300 million for startups will be invested in entities led by women.

He stated that technology is being used on a large scale and is affecting the lives of people all over the world, necessitating the development of responsible and balanced regulations.

“Given the scale and technological leadership that India will have, it is critical to ensure that you are balancing and putting safeguards in place for people. You’re developing an innovative framework so that businesses can innovate on top of legal certainty. I believe it is a critical juncture in history. India will also be a significant exporter. It will benefit from an open and connected internet, and striking the right balance will be critical “Pichai stated.

He claims that the sophistication of the Indian startup ecosystem is increasing and that Indian startups such as Glance are gaining international attention.

Pichai emphasised the importance of an open and connected internet for India, stating that the country is in a critical period of digital transformation.

“India must take the lead in this regard. It’s critical to strike a balance between safeguarding people and developing innovative frameworks that allow businesses to innovate on top of legal certainty “At Google India’s flagship event here, he said this in the presence of IT and Telecom minister Ashwini Vaishnaw.

According to Vaishnaw, the government is working on a number of bills that will protect users’ data and create a strong legal regulatory framework for the new internet economy.

“Prime Minister Narendra Modi has set the goal of developing a comprehensive legal regulatory framework. The first is the telecom bill, which is for the telecom carriers. The second is the digital protection bill, which is aimed at protecting citizens’ privacy rights. The ‘Digital India’ bill will look at almost everything else that needs to be seen “The Minister stated.

The government intends to implement these bills beginning in 2023

Pichai stated that “to me, it makes sense that tech needs responsible regulation” when looking at the scale at which technology is working and touching so many lives around the world. “I think it’s important for countries to think about how to best safeguard their citizens. We are engaging constructively,” he informed the audience.

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Dr. Kirti Sisodhia

Content Writer

CATEGORIES Business Agriculture Technology Environment Health Education

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