Amazon intends to allocate an additional sum of $15 billion to expand its investments in India within the timeframe of 2030

Amazon intends to allocate an additional sum of $15 billion to expand its investments in India

Amazon, the e-commerce giant, has announced its intention to significantly increase its investment in India over the next seven years. This move follows a meeting between Prime Minister Narendra Modi and several prominent American companies, including Amazon, who are bolstering their commitment to the South Asian market.

Having already invested approximately $11 billion in India, Amazon’s CEO, Andy Jassy, revealed on Friday that the company plans to inject an additional $15 billion into the country by 2030. The majority of this new capital is expected to be directed towards expanding Amazon Web Services (AWS) in India. Just last month, the company disclosed its plans to invest $12.7 billion in its cloud business in India by 2030.

Productive meeting with Prime Minister @NarendraModi. Discussed Amazon’s commitment to invest $26B in India by 2030; working together we will support startups, create jobs, enable exports, and empower individuals and small businesses to compete globally.
— Andy Jassy (@ajassy)

Despite closing several businesses in India recently, the country remains a significant overseas market for Amazon. Walmart, a global competitor of Amazon, has also made substantial investments of over $2.5 billion in India this year.

Google’s CEO, Sundar Pichai, announced on Friday that the company intends to establish a global fintech operation center in GIFT city, located in the state of Gujarat.

Prime Minister Narendra Modi’s visit to the United States has garnered various other notable commitments this week. Micron, a U.S. memory chip company, revealed plans to invest up to $825 million in its first DRAM and NAND assembly and test facility in India, while Applied Materials pledged a $400 million investment over four years in a new engineering center in the country.