Amazon announces $35 billion investment in India

Amazon plans to invest more than $35 billion in India by 2030 to expand operations and strengthen its artificial intelligence capabilities, the US e-commerce giant said on Wednesday, becoming the latest global tech firm to deepen its presence in the world’s most populous country.

Major US tech firms have poured billions of dollars into India this year, underscoring the country’s emergence as a strategic hub for cloud, AI and deep-tech growth.

Microsoft has pledged an investment of $17.5 ?billion in India for AI and cloud infrastructure by 2030, marking its largest investment in Asia, while Google has committed $15 billion over the next five years to build AI data centers.

Amazon said the investment is aimed at deepening its presence in Asia’s third-largest economy, where it has ramped up spending to compete with Walmart-backed Flipkart and the retail arm of billionaire Mukesh Ambani’s Reliance Industries.

The US e-commerce giant, which has invested $40 billion in its Indian business since 2010, had announced a $26 billion investment in 2023 to deepen its presence in the country.

Amazon says it has helped generate more than $20 billion in cumulative exports for sellers in India in the last ten years, and plans to increase that to $80 billion by 2030.

It aims to create 1 million additional job opportunities in the country by 2030.