Amazon has announced plans to further invest in India, with a total commitment of $26 billion by 2030. CEO Andy Jassy made this announcement following a meeting with Prime Minister Narendra Modi during Jassy’s visit to the United States. While the specifics of the investments were not provided, this comes after a previous commitment by Amazon Web Services to invest $12.9 billion in the country by the end of 2030.

The initial investment of $6.5 billion aims to strengthen Amazon’s e-commerce business in India, where it faces competition from Walmart-owned Flipkart and Reliance Retail, owned by Mukesh Ambani. With this new commitment, Amazon’s total investment in the country will increase by a further $6.5 billion.

During the meeting, Modi and Jassy discussed various topics, including support for Indian startups, job creation, export facilitation, digitization, and empowering small businesses to compete globally. Amazon emphasized its commitment to these areas in a blog post, highlighting its belief in their role in driving India’s economic growth.

Amazon’s increased investment is reflective of the growing interest of global companies in the Indian market. Other companies, such as Applied Materials and Micron Technology, have also announced commitments during Prime Minister Modi’s visit.

Google has also revealed its plans to establish a global fintech operation center in GIFT City, Gujarat, India. This center will focus on supporting Google’s payment service GPay and other product operations. Sundar Pichai, CEO of Google, confirmed the company’s ongoing investment in India through its $10 billion digitization fund.

Prime Minister Modi’s trip to Washington also included meetings with top executives from Apple, Google, and Microsoft, among others. Modi encouraged these companies to consider manufacturing in India, aligning with his vision of making the country a hub for production and innovation.

Amazon’s increased investment in India highlights its commitment to the country and its recognition of the significant growth opportunities in the Indian market. As one of the world’s largest e-commerce companies, Amazon’s continued investment not only drives its own business growth but also contributes to India’s economic development and job creation.

Useful links:
1. Amazon website
2. Flipkart website