You can use the Google Drawing tool to add a drop cap to your google doc.
1. Put your cursor at the beginning of the paragraph.
2. Go to Insert - Drawing.
3. In the Drawing panel, select Actions - Word art.
4. Type the letter you need into the box that appears and press the Return/Enter key.
5. To change the font, click on the font option in the menu bar.
6. Format the size, fill, etc. as desired.
7. Press the blue Save & Close button to put the drop cap into your document.
8. In the menu below the letter, select Wrap text and move the letter where you need it to be.
Thanks to Zack for coming up with solution here https://support.google.com/docs/threa...