Google India has been experiencing robust growth, adding millions of subscribers each month across its various platforms. The company has scored high on parameters such as ‘trustworthy leadership,’ ‘financial returns,’ and ‘work culture,’ which earned it the fifth position in BW Businessworld’s list of Most Respected Companies for 2021-22, an improvement from its second-ranking the previous year.
According to a recent industry report, Google has established a clear monopoly on the mobile search engine market in India, with a share of 99.74% as of November 2022. Chrome, the company’s browser, also enjoys an estimated 87% share of the browser market in India. Furthermore, India now has the highest number of YouTube users globally, with an estimated 225 million users compared to 197 million in the United States.
Google India’s Impressive Growth:
In 2021-22, Google India witnessed tremendous growth in net profit and total revenue, thanks to the pandemic-driven boom in online advertising and increased digital adoption. The company’s latest filing with the Registrar of Companies indicates that its net profit for the financial year was Rs 1,238.9 crore, a 53.3% YoY increase from the previous year, while its operating revenue grew by 48.4% YoY to Rs 9,286 crore. Its total revenue also rose by 46% YoY to Rs 9,439.3 crore, while gross advertising revenue surged by 79.5% YoY to Rs 24,926.5 crore, and net advertising sales climbed to Rs 2,080.9 crore, up from Rs 1,624.5 crore in FY21.
Despite the impressive growth, the year 2023 started on a sour note for Google India as the company announced layoffs across geographies as part of a reduction in its workforce. Reports indicate that Google laid off around 450 employees recently, and the company is reducing its workforce by 6% globally. This move is in contrast to the company’s plans for the end of 2021 to double its workforce in India.
Google India VP on India’s Tech Potential:
Sanjay Gupta, Country Head and VP of Google India highlighted the unique opportunity India presents for technology solutions that could help bridge the disparities between the population while addressing the India Digital Summit. Gupta stated that startups and the digital landscape would be significant game-changers for the digital economy, driving it from a USD 250 billion to a USD 1 trillion economy and accounting for more than half of India’s growth over the coming five years.
In conclusion, Google India has been making significant strides in the Indian market, becoming a dominant player in the search engine, browser, and online video streaming space, with a surge in net profit and total revenue. However, the company’s recent announcement of layoffs across geographies, including India, comes as a surprise and raises concerns about its future plans.
Read More: LG V60 ThinQ Users Rejoice as Latest Android 13 Update Rolls Out
