Amazon raises investment in India to $26 billion by 2030
Reuters
AmazonAndy Jassy
Though Jassy gave no breakdown, the announcement follows Amazon’s cloud computing unit Amazon Web Services (AWS) saying last month it will invest 1.06 trillion rupees ($12.9 billion) in the country by the end of 2030.
Earlier, Amazon had announced a $6.5 billion investment plan, largely to boost its e-commerce business where it competes with Walmart’s Flipkart and billionaire Mukesh Ambani’s Reliance Retail
The new investment amount committed now comes to around an additional $6.5 billion, Reuters reported.
The e-commerce giant’s announced investment during Modi’s trip adds to other companies, including US semiconductor toolmaker Applied Materials and memory chip firm Micron Technology, which have made commitments during the Indian prime minister’s state visit.
Modi and Jassy spoke about supporting Indian startups, creating jobs, enabling exports, digitisation, and empowering individuals and small businesses to compete globally, an Amazon blog post said.
Separately, Google
“We shared Google is investing $10 billion in the India digitisation fund, and we are continuing to invest through that,” CEO Sundar Pichai told reporters in a video shared on Twitter
On the final day of his Washington trip, Modi met with US and Indian technology executives, including AppleTim Cook
