Google has recently made a significant move by appointing Preeti Lobana as its new Country Manager and Vice President for India. Lobana, who has previously held leadership positions at NatWest Group, American Express, Standard Chartered Bank, and ANZ Grindlays Bank, will now be at the helm of Google India’s sales and operations. This appointment comes at a time when Google India is witnessing a surge in its net profit, which rose by 6.1 per cent to Rs 1,424.9 crore in the fiscal year ending March 2024.
Lobana’s leadership will be instrumental in driving Google’s commitment to the burgeoning digital economy in India. She will be partnering with Roma Datta Chobey, who led as the interim Country Manager and will continue her leadership as Managing Director for Google India’s Digital Native Industries. Lobana’s appointment is expected to deepen Google’s engagement with India’s unique ecosystem, leveraging AI advancements like Gemini 2.0 to accelerate digital inclusion and unlock unprecedented economic opportunities for every Indian.
Sanjay Gupta, President of Asia-Pacific, Google, praised Lobana’s leadership and passion for customer-centricity, which he said has fuelled impactful solutions for businesses across industries. He added that her leadership will be instrumental in empowering millions of businesses to thrive in the digital age.
Google India’s financial performance has been robust, with the company posting a 6.1 per cent net profit in the fiscal year ending March 2024. The company’s total income was Rs 7,097.5 crore for FY24, comprising Rs 5,921.1 crore from ongoing operations and an additional Rs 1,176.4 crore from discontinued operations. Google India’s other income rose to Rs 403 crore, a 106 per cent surge over Rs 195 crore in FY23.
The tech giant generates revenue from advertising, IT-enabled services, and enterprise products. The Revenue from IT-enabled services increased by 16 per cent to Rs 2,389 crore in FY24. Revenue from enterprise products grew 57 per cent to Rs 174 crore in FY24 from Rs 111 crore in FY23. The income from continuing operations showed a robust 26 per cent increase over the previous year, reflecting strong growth in Google India’s business activities.
Google in India has set a goal to empower 10 million people with AI digital literacy, including students, job seekers, educators, startups, developers, and civil officials. This is part of Google’s broader commitment to the digital economy, which is set to play a crucial role in delivering the target of a $1 trillion digital economy by 2028, about 20 per cent of India’s GDP.
