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Amazon Commits to $15 Billion Investment in India

Amazon testing Prime Lite membership in India at yearly subscription of Rs 999

Amazon CEO Andy Jassy has announced plans to increase the tech giant’s investment in India, aiming to bring the total to $26 billion by 2030. Jassy made this commitment after a meeting with Prime Minister Narendra Modi during his visit to the United States. The additional $15 billion investment will support startups, create jobs, facilitate exports, and empower individuals and small businesses to compete globally.

During the meeting, Jassy expressed Amazon’s dedication to the Indian market and highlighted the company’s investment of $11 billion. He stated, “Amazon is one of the biggest investors in India. We have invested $11 billion till date and intend to invest another $15 billion, which will bring the total to $26 billion. So we are very much looking forward to the future of partnering.”

India, with its young population and increasing spending potential, has become an attractive investment destination for global brands. Companies like Amazon view India as a key growth market, and this commitment underscores their long-term strategy to capitalize on the country’s immense potential.

The investment by Amazon is expected to have a significant impact on India’s digital economy. The company has already digitized over 6.2 million Indian small businesses, facilitated exports worth over $7 billion, and generated more than 1.3 million direct and indirect jobs, according to a blog post by Amazon. Additionally, last month Amazon Web Services (AWS) announced its intention to invest $12.7 billion in cloud infrastructure in India by 2030, reflecting the growing demand for cloud services in the country.

Following the meeting, the Indian Ministry of External Affairs tweeted about the productive discussion between Prime Minister Modi and Amazon’s CEO. The talks primarily focused on e-commerce and the potential for further collaboration, particularly in the logistics sector in India. The country’s Minister of State for Entrepreneurship, Rajeev Chandrasekhar also tweeted about the development.

 Rajeev Chandrasekhar tweet

In a related development, Google has also expressed its commitment to India’s digital transformation. The tech giant revealed plans to establish a global fintech operation center in GIFT City, located in the western state of Gujarat. The center will support Google’s payment service GPay and other product operations, reaffirming Google’s investment of $10 billion in the India digitization fund.

During his visit to the United States, Prime Minister Modi met with several prominent technology executives, including Tim Cook from Apple, Sundar Pichai from Google, and Satya Nadella from Microsoft. The Prime Minister urged global companies to “Make in India,” emphasizing the country’s potential as a manufacturing hub and a catalyst for technological innovation.

With Amazon’s increased investment and Google’s continued commitment to India’s digital future, the country’s position as a prime destination for tech investments is further solidified. The investments are expected to fuel economic growth, job creation, and the empowerment of individuals and small businesses in India.