Amazon Commits $15 Billion Investment to India as CEO Shares Plans with PM Modi
Amazon and Google Lead the Charge with Billions in Investments
24 June 2023
Amazon.com Inc announces an additional $15 billion investment in India, bringing its total commitment to $26 billion by 2030. The focus is on supporting startups, job creation, digitization, and empowering small businesses.
Amazon Web Services (AWS) previously announced a $12.9 billion investment in India by 2030, reinforcing Amazon's dedication to the Indian market and driving job creation, exports, and digital transformation.
Google plans to establish a global fintech operation center in GIFT City, Gujarat, as part of its $10 billion India Digitization Fund, showcasing India's growing importance in the global digital landscape.
In a recent meeting between Amazon CEO Andy Jassy and Indian Prime Minister Narendra Modi, it was announced that Amazon.com Inc would be investing an additional $15 billion in India. This significant investment brings Amazon's total commitment to the country to $26 billion by 2030. The discussion between Jassy and PM Modi focused on various areas such as supporting Indian startups, job creation, digitization, and empowering individuals and small businesses to compete on a global scale.
Amazon's investment in India follows a similar move by its cloud computing division, Amazon Web Services (AWS), which had announced a $12.9 billion investment in the country by 2030. With these substantial financial commitments, Amazon is reinforcing its commitment to the Indian market and its ambition to leverage the country's potential as a hub for digital innovation and growth. The investments are expected to fuel job creation, enable exports, and accelerate the digitization of businesses across various sectors.
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Meanwhile, Google has also unveiled its plans to establish a global fintech operation center in GIFT City, located in the western state of Gujarat, India. Sundar Pichai, CEO of Google, stated that the company would continue its investments in India through its $10 billion India Digitization Fund. Although further details regarding the new center were not immediately available, this move by Google signifies its recognition of India's growing importance in the global digital landscape.
The increasing investments by Amazon and Google highlight India's status as a key player in the global technology and e-commerce markets. The meetings between PM Modi and prominent technology executives, including Tim Cook from Apple and Satya Nadella from Microsoft, emphasized India's commitment to attract foreign investments and promote the "Make in India" initiative. With these substantial commitments, India is poised to further accelerate its digital transformation, create employment opportunities, and solidify its position as a major player in the global digital economy.