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Amazon Boosts Investment in India, Commits to $26 Billion by 2030

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Amazon Boosts Investment in India, Commits to $26 Billion by 2030

After a meeting between CEO Andy Jassy and Prime Minister Narendra Modi in the United States, Amazon.com announced its plans to increase its investments in India to $26 billion by 2030. This includes an additional $6.5 billion in newly planned investments. The decision showcases Amazon’s commitment to expanding its presence and operations in the Indian market.

While specific details were not provided by Jassy, the recent announcement aligns with Amazon’s cloud computing division, Amazon Web Services (AWS), revealing its plan last month to invest $12.9 billion in India by 2030. This underscores Amazon’s continued commitment to enhancing its presence and investments in the country’s rapidly growing technology sector.

Previously, Amazon unveiled a $6.5 billion investment plan primarily focused on strengthening its e-commerce business, which places it in direct competition with Walmart’s Flipkart and billionaire Mukesh Ambani’s Reliance Retail. The recent commitment to additional investment amounts to approximately $6.5 billion, further underlining Amazon’s dedication to expanding its operations in India’s fiercely competitive e-commerce landscape.

During Prime Minister Modi’s state visit, Amazon’s recent investment announcement contributes to a series of commitments made by various companies. Notably, U.S. semiconductor toolmaker Applied Materials and memory chip firm Micron Technology have also pledged investments during this significant event. These collective investments demonstrate the growing interest and confidence of multinational companies in India, particularly during Prime Minister Modi’s visit.

According to a blog post by Amazon, Modi and Jassy engaged in discussions regarding various areas of mutual interest. They explored ways to support Indian startups, generate employment opportunities, facilitate exports, drive digitization, and empower individuals and small businesses to compete on a global scale. These topics reflected the shared vision to foster a thriving ecosystem that promotes innovation, entrepreneurship, and economic growth in India.

In an Amazon blog post, it was stated that Prime Minister Modi and CEO Jassy held discussions on several key areas. These included the support for Indian startups, job creation, promotion of exports, digitization efforts, and the empowerment of individuals and small businesses to compete on a global scale. The conversations reflected a shared commitment to fostering an environment that encourages innovation, economic growth, and opportunities for various stakeholders in India.

In a statement provided to Reuters, Google announced its plans to establish a global fintech operation center in GIFT City, located in the western state of Gujarat, India. The center will house teams dedicated to supporting Google’s payment service, GPay, as well as handling other product operations. This initiative highlights Google’s commitment to expanding its presence in the Indian market and furthering its fintech capabilities.

During a video shared on Twitter by Reuters partner ANI, Google CEO Sundar Pichai informed reporters that the company remains committed to its investment in India’s digitization. Pichai revealed that Google is allocating $10 billion to the India Digitization Fund and reiterated their ongoing investment in the country. This reaffirms Google’s dedication to supporting India’s digital transformation and fostering technological advancements in various sectors.

Concluding his visit to Washington, Prime Minister Modi engaged in a meeting with technology executives from both the United States and India. Attendees included Tim Cook from Apple, Sundar Pichai from Google, and Satya Nadella from Microsoft. During the meeting, Modi appealed to global companies, urging them to consider investing and manufacturing in India, emphasizing the “Make in India” initiative. The objective was to encourage increased participation of international companies in India’s thriving market and promote the country’s position as a global manufacturing hub.

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