Monday, May 20, 2024

Amazon CEO says committed to invest $26 bn in India by 2030

E-commerce giant Amazon CEO Andy Jassy on Saturday said that the company is committed to invest $26 billion in India by 2030, after he met Prime Minister Narendra Modi here.

Amazon has invested about $11 billion in India so far and has plans to invest nearly $15 billion more by 2030.

“Productive meeting with Prime Minister Narendra Modi. Discussed Amazon’s commitment to invest $26 billion in India by 2030,” Jassy tweeted after meeting PM Modi who concluded his three-day state visit to the US on Friday.

“Working together, we will support startups, create jobs, enable exports, and empower individuals and small businesses to compete globally,” the Amazon CEO added.

India is a key market for Amazon, where it has invested over $6.5 billion in e-commerce in the last decade.

In May this year, Amazon Web Services (AWS), the Cloud arm of e-commerce giant Amazon, announced plans to invest Rs 1,05,600 crore ($12.7 billion) into cloud infrastructure in India by 2030 to meet growing customer demand for cloud services in the country.

This investment is estimated to contribute Rs 1,94,700 crore ($23.3 billion) to India’s total gross domestic product (GDP) by 2030.

The fresh investment followed AWS’s investment of Rs 30,900 crore ($3.7 billion) between 2016-2022, which will bring AWS’s total investment in India to Rs 1,36,500 crore ($16.4 billion) by 2030.

AWS has two data centre infrastructure regions in India — the AWS Asia Pacific (Mumbai) Region, launched in 2016, and the AWS Asia Pacific (Hyderabad) Region, launched in November 2022.

The company estimates that its overall contribution to the GDP of India between 2016 and 2022 was more than Rs 38,200 crore ($4.6 billion), and the investment supported approximately 39,500 jobs annually in Indian businesses.

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