Amazon investment in India surged by 2030 to 26 billion

On Friday, Amazon.com announced that it intends to increase its investments in India to $26 billion by 2030. The announcement came after CEO Andy Jassy met with Prime Minister Narendra Modi during his visit to the United States. While a breakdown of the investment was not provided, this commitment follows Amazon Web Services' (AWS) recent statement that it plans to invest $12.9 billion in the country by the end of 2030.

Previously, Amazon had announced a $6.5 billion investment plan primarily focused on strengthening its e-commerce business, where it faces competition from Flipkart (owned by Walmart) and Reliance Retail (owned by Mukesh Ambani). The latest commitment adds an additional $6.5 billion to the total investment amount.

During Prime Minister Modi's visit, several other companies, including Applied Materials and Micron Technology, made investment commitments. Modi and Jassy discussed various topics, such as supporting Indian startups, job creation, exports, digitization, and empowering individuals and small businesses to compete globally.

Separately, Google revealed its plans to establish a global fintech operation center in Gujarat's GIFT City in India. The center will support Google's payment service GPay and other product operations. Sundar Pichai, Google's CEO, stated that the company is investing $10 billion through the India digitization fund.

During Modi's visit to Washington, he engaged with technology executives from Apple, Google, and Microsoft, among others, urging global companies to "Make in India."