Amazon Plans to Invest Another $15 Billion in India by 2030 – Amazon has announced its intention to significantly increase its investment in India over the next seven years. After engaging with Prime Minister Narendra Modi, the e-commerce giant joins other prominent American companies in bolstering their commitment to the South Asian market.
Currently, Amazon has invested approximately $11 billion in India, but it plans to inject an additional $15 billion by 2030, according to Amazon chief executive Andy Jassy. The majority of this capital infusion will likely be dedicated to expanding Amazon Web Services (AWS) in India. In fact, the company revealed last month that it intends to allocate $12.7 billion to its cloud business in the country by 2030.
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Despite closing several businesses in India recently, Amazon recognizes the country as a crucial international market. In a similar vein, Walmart, a global competitor of Amazon, has also made substantial investments, exceeding $2.5 billion, in India this year. In a significant development, Sundar Pichai, the CEO of Google, announced on Friday that the company intends to establish a fintech operation center on a global scale in GIFT City, located in the state of Gujarat.
Prime Minister Narendra Modi’s visit to the United States has garnered attention and resulted in various notable commitments this week. Micron, a prominent U.S. memory chip company, has pledged to invest a substantial sum of up to $825 million in India.
This investment will go towards establishing their first-ever DRAM and NAND assembly and test facility in the country. Furthermore, Applied Materials, another leading company, has committed to investing $400 million over a span of four years to establish a new engineering center in India.