Business

After meeting PM Modi, Amazon CEO says committed to invest $26 bn in India by 2030

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

June 24, 2023

Amazon CEO Andy Jassy says ready to invest $15 bn more in India

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

After meeting PM Modi in the US, Jassy tweeted, “Productive meeting with Prime Minister Narendra Modi. Discussed Amazon’s commitment to invest $26 billion in India by 2030.”

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

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.

[With Inputs from IANS]

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