Amazon, $35 billion investment in India by 2030
The figure is in addition to the 40 billion already invested in the country since 2010
Amazon has announced a doubling of its investment in India, with the aim of expanding exports, creating jobs and investing in artificial intelligence in the world's most populous country. "Amazon announces plans to invest more than $35 billion across all of its operations in India through 2030, adding to the $40 billion already invested in the country since 2010," the e-commerce giant said in a note. This investment will focus on business expansion and three strategic pillars: AI-based digitisation, export growth and job creation'.
Amazon said the investment aims to consolidate its presence in Asia's third-largest economy, where it has increased spending to compete with Walmart-backed Flipkart and the retail division of billionaire Mukesh Ambani's Reliance Industries.
The US e-commerce giant had announced an investment of USD 26 billion in 2023 to strengthen its presence in the country.
Amazon says it has helped generate over $20 billion in cumulative exports for sellers in India over the past ten years and plans to increase this to $80 billion by 2030. The goal is to create 1 million additional jobs in the country within five years.
"We are excited to continue to be a catalyst for India's growth as we democratise access to artificial intelligence for millions of Indians," said Amit Agarwal, head of emerging markets at Amazon.
