By 2030, Amazon Will Invest $15 Billion In India

(CTN News) – In the coming seven years, Amazon plans to invest more than double its amount in the Indian market, the e-commerce giant announced on Monday.

Amazon joins a group of other high-profile American companies that have boosted their commitment to the South Asian market after meeting Prime Minister Narendra Modi this week.

As of Friday, Amazon CEO Andy Jassy announced that the company was investing about $11 billion in India so far and is planning to invest $15 billion more by 2030.

The vast majority of the new capital is likely to be allocated for AWS expansion in India, which will take place in the coming years.

It was announced last month by the company that it is planning to invest $12.7 billion into its cloud business in the South Asian nation by 2030, as part of its expansion plans.

There is no question that India is one of Amazon’s biggest overseas markets, despite the fact that the company has closed a number of operations in the country in recent quarters.

Over $2.5 billion has also been spent by Walmart, Amazon’s global rival, this year in India, which was also higher than last year.

According to Sundar Pichai, Google’s chief executive officer, the company has plans to open a global fintech operation centre in the Indian state of Gujarat, which is located in the GIFT City.

In addition to Modi’s trip to the United States, there have been several other high-profile commitments made by Prime Minister Modi this week as the result of his trip to the United States.

Applied Materials, a rival of Micron, announced recently that it would invest an estimated $825 million in its first assembly and testing facility in India for DRAM and NAND, while Micron has announced that it will invest $400 million over the next four years in establishing a new engineering center in India for DRAM and NAND.

What is Amazon and how does it work?

A large, Internet-based retailer, Amazon.com is a global company that sells a wide range of products, including books, music, movies, housewares, electronics, toys, and many other goods, directly to customers or by acting as a middleman between other retailers and Amazon.com’s millions of customers.

SEE ALSO:

Carlsberg Leaves Russia Without Revealing Who Will Buy The Business