Amazon.com Inc on Friday (23 June 2023) will take its investments in India to $26 billion by 2030, adding $6.5 billion in new planned investments, CEO Andy Jassy said after meeting Prime Minister Narendra Modi in the United States.
Although Jassi did not give a breakdown, the statement said Amazon's cloud computing unit Amazon Web Services (AWS) saying last month it would invest 1.06 trillion rupees ($12.9 billion) in the country by the end of 2030.
Earlier, Amazon announced a $6.5 billion investment plan to boost its e-commerce business, which competes with Walmart's Flipkart and billionaire Mukesh Ambani's Reliance Retail.
The amount of new committed investment now stands at nearly $6.5 billion.
The investment, announced by the e-commerce giant during Modi's visit, is a U.S. commitment made during the Indian Prime Minister's state visit. It will add to other companies, including semiconductor toolmaker Applied Materials and memory chip firm Micron Technology.
Modi and Jassi talked about supporting Indian startups, job creation, exports, digitization and encouraging individuals and small businesses to compete globally, Amazon's blog post said.
Separately, Google will open a global fintech operations center in GIFT City in India's western state of Gujarat, where teams will work on operations to support its payments service GPay and other product operations at Google, the company said in a statement to Reuters.
"We shared that Google will invest $10 billion in the India Digitization Fund and we continue to invest through that," CEO Sundar Pichai told reporters in a video shared by the company on Twitter, Reuters partner ANI.
On the last day of his visit to Washington, Modi met with American and Indian technology executives including Apple's Tim Cook, Google's Pichai and Microsoft's Satya Nadella and appealed to global companies to "Make in India".
-- Reutes
