Amazon will invest $26 billion in India by 2030. After meeting Prime Minister Narendra Modi in the US, AmazonInc (AMZN.O) CEO Andy Jassy announced on Friday that the company will invest $26 billion in India by 2030, adding $6.5 billion.
Amazon’s cloud computing unit Amazon Web Services (AWS) announced last month it will invest 1.06 trillion rupees ($12.9 billion) in India by 2030. Jassy did not provide a breakdown.
Amazon launched a $6.5 billion investment plan to fight with Walmart’s Flipkart and billionaire Mukesh Ambani’s Reliance Retail.
Investments total $6.5 billion.
During Modi’s state visit, Applied Materials, Micron Technology, and the e-commerce behemoth all announced investments.
An Amazon blog post stated Modi and Jassy discussed assisting Indian entrepreneurs, creating jobs, facilitating exports, digitization, and empowering individuals and small businesses to compete worldwide.
Google (GOOGL.O) CEO Sundar Pichai told reporters in a video provided on Twitter by Reuters partner ANI business that GIFT City in Gujarat, India, will host a global financial operation center.
“We shared Google is investing $10 billion in the India digitisation fund, and we are continuing to invest through that,” Pichai said.
After business hours, Google did not respond to Reuters’ request for more information on the new facility.
Modi met with U.S. and Indian technology CEOs, including Apple’s (AAPL.O) Tim Cook, Google’s Pichai, and Microsoft’s (MSFT.O) Satya Nadella, to encourage global firms to “Make in India” on his final day in Washington.
Comment Template