Amazon to invest over US$35 billion in India on AI, exports
Major US tech firms have poured billions of US dollars into India this year
[BENGALURU] Amazon plans to invest more than US$35 billion in India by 2030 to expand its operations by boosting artificial intelligence (AI) capabilities and increasing exports, the US e-commerce giant said on Wednesday (Dec 10), as global tech firms deepen their presence in Asia’s third-largest economy.
Major US tech firms have poured billions of US dollars into India this year, underscoring the country’s emergence as a strategic hub for cloud, AI and deep-tech growth.
Microsoft pledged an investment of US$17.5 billion in India for AI and cloud infrastructure by 2030 on Tuesday, marking its largest investment in Asia, while Google has committed US$15 billion over the next five years to build AI data centres.
Amazon’s investments are “strategically aligned with India’s national priorities and will focus on expanding AI capabilities, enhancing logistics infrastructure, supporting small business growth and creating jobs”, the company said.
Amazon has ramped up spending in the country to compete with Walmart-backed Flipkart and the retail arm of billionaire Mukesh Ambani’s Reliance Industries.
The e-commerce giant, which has invested US$40 billion in India since 2010, announced a US$26 billion investment in 2023.
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Amazon said that it plans to create one million additional job opportunities in India by 2030. The firm also said that it has helped generate more than US$20 billion in cumulative exports for sellers in India in the last ten years, and plans to increase that to US$80 billion by 2030.
India, the world’s most populous nation, is a critical market for Amazon, due to its rapidly expanding Internet user base. REUTERS
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