New Delhi: One of the biggest international investments made by Amazon has announced that it will reinvest in India to the tune of over $35 billion by 2030.
The company claimed that the investment will enhance its business, increase its artificial intelligence, and enhance its position in one of the fastest-growing digital economies in the world. The relocation puts Amazon in a group of American tech giants that are making more investments in the cloud, AI, and deep-tech capacity of India.
The investment is coming along with a global race to scale in the country. Microsoft has committed up to $17.5 billion towards AI and cloud infrastructure, and Google is expected to invest up to $15 billion in the next five years to establish advanced AI data centres. The combination of such announcements highlights how India is becoming a technology hub and its capacity to grow on a massive scale in the long term.
Rising competition in India’s e-commerce and tech sector
Amazon reported that the new investment would help solidify its position in the third-largest economy in Asia, where the firm competes intensely with Walmart-backed Flipkart and Reliance Retail, headed by Mukesh Ambani. The e-commerce giant has already invested over $40 billion in India since 2010 and had already declared a $26 billion devotion earlier last year.
The company emphasised that it has influenced the export economy of India and that sellers on its site have achieved more than $20 billion in cumulative exports within the last ten years. Amazon now has a goal of reaching that amount of $80 billion by 2030. The firm will also establish 1 million more jobs in India by the same period, solidifying its expanding presence in the Indian digital environment.
