Amazon has announced plans to increase its investment in India, with a target to invest $15 billion by 2030. The majority of this capital will likely be allocated for expanding its AWS business in the country. This announcement follows a meeting between Amazon CEO Andy Jassy and Indian Prime Minister Narendra Modi, in which they discussed Amazon’s commitment to supporting startups, creating jobs, enabling exports, and empowering individuals and small businesses to compete globally.
India is an important market for Amazon, despite the closure of some of its businesses in the country in recent quarters. Walmart, another global rival of Amazon, has also invested over $2.5 billion in India this year.
In addition, Google CEO Sundar Pichai announced the opening of a global fintech operation center in GIFT city, Gujarat.
Modi’s visit to the US has also led to other significant commitments, including Micron’s plan to invest up to $825 million in its first DRAM and NAND assembly and test facility in India, and Applied Materials’ pledge to invest $400 million over four years in a new engineering center in the country.
