Business
Amazon to invest over $35 billion in India on AI, exports
Dec 10 (Reuters) – Amazon (AMZN.O), opens new tab plans to invest more than $35 billion in India by 2030 to expand its operations by boosting artificial intelligence capabilities and increasing exports, the U.S. e-commerce giant said on Wednesday, as global tech firms deepen their presence in Asia’s third-largest economy.
Major U.S. 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.
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Microsoft (MSFT.O), opens new tab pledged an investment of $17.5 billion in India for AI and cloud infrastructure by 2030 on Tuesday, marking its largest investment in Asia, while Google (GOOGL.O), opens new tab has committed $15 billion over the next five years to build AI data centers.
Amazon’s investments are “strategically aligned with India’s national priorities and will focus on expanding AI capabilities, enhancing logistics infrastructure, supporting small business growth and creating jobs,” the company said in a statement.
Amazon has ramped up spending in the country to compete with Walmart-backed Flipkart and the retail arm of billionaire Mukesh Ambani’s Reliance Industries (RELI.NS), opens new tab.
The e-commerce giant, which has invested $40 billion in India since 2010, announced a $26 billion investment in 2023.
Amazon said it plans to create 1 million additional job opportunities in India by 2030. The firm also said 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.
India, the world’s most populous nation, is a critical market for Amazon, due to its rapidly expanding internet user base.
Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala
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