Technology giant Google on Monday unveiled a stellar announcement. It said that it has major plans to invest over Rs 75,000 crore in India over the next 5-7 years.

To this effect, Google and Alphabet CEO Sundar Pichai suggested that the investment will be made through "equity investments and tie-ups".

Blogging about the plans, Pichai wrote, "Today, I am excited to announce the Google for India Digitization Fund. Through this effort, we will invest Rs 75,000 crore, or approximately $10 billion, into India over the next 5-7 years. We will do this through a mix of equity investments, partnerships, and operational, infrastructure and ecosystem investments. This is a reflection of our confidence in the future of India and its digital economy."

Thanking Sundar Pichai, Union IT Minister Ravi Shankar Prasad said, "The story of Digital India is that of development, empowerment and inclusion. Delighted that Google will invest $10 billion in India. Under the leadership of PM Narendra Modi, we are moving towards a $1 trillion digital economy and for that it is a big boost."