India startups are increasingly attracting attention from foreign multinationals with a notable one being Google Inc (NASDAQ:GOOG), which is believed to be in the process of setting up shop in the country. Such investments will mark the first major expansion by Google Capital outside the U.S. as the company seeks to ramp-up support for mid-stage technology companies.
Google Inc (NASDAQ:GOOG) Capital, unlike Google Ventures, focuses on investing in companies with proven track records. The arm has already invested in CommonFloor an online real estate startup based in Bangalore while also backing Freshdesk a San Francisco-based customer support platform.
Google Inc (NASDAQ:GOOG) has already kick started the process of employing staff in the country with a round of interviews for heads who are to spearhead its efforts in one of Asia’s largest marketplaces. Investment in India make a lot of sense considering it is a country of 1.2 billion people that has surpassed the U.S in terms of internet usage and continues to attract more online companies.
Local entrepreneurs have been up and running, coming up with some brilliant innovations and offerings for the domestic market as the marketplace continues to grow at an impressive rate. Google Inc (NASDAQ:GOOG) remains numb on which city it intends to set up its shop or the time frame that it intends to make the hiring’s. The company has also not yet disclosed the amount of investments it is allocating to the new project while stating that the hired personnel will be required to focus more on any promising sectors in the country.
Google Inc (NASDAQ:GOOG) apparently is not the only global player betting big on India’s internet prospects that continue to grow at an impressive pace. Amazon.com, Inc. (NASDAQ:AMZN) already has a keen eye on India having reiterated plans to invest up to $2 billion in the expansion of its operations.
Flipkart another online giant in the country raised $1 billion in funding last year from the likes of Morgan Stanley (NYSE:MS) Investment Management as well as Tiger Global Management as global players make a rush for India’s fast growing online marketplace.