E-commerce giant, Amazon plans to invest $15 billion more in India, taking its total investment in the country to $26 billion. After meeting Prime Minister Narendra Modi in the US, Amazon CEO Andy Jassy said the company has already invested $11 billion in India to date. During the meeting PM Modi and Jassy discussed supporting Indian startups, creating jobs, enabling exports, going digital and empowering individuals and small businesses to compete globally. The company has made a commitment to digitize 10 million small businesses, facilitate $20 billion in exports, and generate 2 million jobs in India by 2025.
“I had a very good and productive conversation with Prime Minister Modi. I think we share a number of goals. Amazon is one of the biggest investors in India. We have invested $11 billion to 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,” Jassy said.
India’s External Affairs Ministry in a tweet said the prime minister held a productive meeting with the president and CEO of Amazon. “Discussions focused on the area of e-commerce and the potential of further collaboration with @amazon in the logistics sector in India,” it said.
Union Minister of State for Electronics and IT Rajeev Chandrasekhar also took to the micro-blogging platform Twitter and tweeted about Jassy’s meeting with PM Modi.
“This big investment commitment by Amazon India is to invest $26 billion by 2030 and create 20 Lakh jobs in India – is consistent with PM @narendramodi ji’s vision of a Digital and Self-Reliant India and will help further deepen the #AI(America-India) tech partnership,” he noted.
Meanwhile, Amazon.com Inc’s (AMZN.O) cloud computing unit will invest 1.06 trillion rupees ($13 billion) in India by the end of this decade, doubling down on its past investments to cater to the growing demand for such services in one of Asia’s fastest-growing economies.
The investment will be used to build its cloud infrastructure in India and will support over 100,000 full-time jobs annually, Amazon Web Services (AWS) said in a statement on Thursday. With this, the total planned investment in India adds up to about $16.4 billion by 2030.