In a bid to strengthen its presence in the Indian market, e-commerce behemoth Amazon has revealed plans to more than double its investment in the country over the next seven years. The announcement comes as several prominent American companies, including Amazon, have ramped up their commitment to the South Asian market following a meeting with Prime Minister Narendra Modi.
According to Amazon’s CEO, Andy Jassy, the company has already invested approximately $11 billion in India and intends to pour an additional $15 billion into the country by 2030. The majority of this capital is expected to be allocated to the expansion of Amazon Web Services (AWS) in India. Last month, Amazon disclosed its intention to invest $12.7 billion in its cloud business in the South Asian nation by 2030.
India holds significant strategic importance for Amazon as an overseas market, despite the closure of several of its businesses in the country in recent quarters. Walmart, a global rival to Amazon, has also demonstrated its commitment to the Indian market by investing more than $2.5 billion this year.
In addition to Amazon’s plans, Google’s CEO, Sundar Pichai, announced that the company will establish a global fintech operation center in Gujarat’s GIFT city. This move further highlights the growing interest of American companies in expanding their presence in India.
Prime Minister Narendra Modi’s visit to the United States has garnered attention and resulted in numerous high-profile commitments this week. Micron, a U.S. memory chip firm, plans to invest up to $825 million in its first DRAM and NAND assembly and test facility in India. Similarly, Applied Materials has pledged $400 million over four years to establish a new engineering center in the country.
These investments reflect the increasing recognition of India’s potential as a thriving market for global companies, and they are expected to foster job creation, support startups, enhance export capabilities, and empower individuals and small businesses to compete on a global scale. The commitments made during Prime Minister Modi’s visit signify a positive outlook for India’s economic growth and technological advancements in the coming years.
