Amazon seeks to invest another $15B in India by 2030

Amazon seeks to invest an additional $15 billion in India by 2030, joining other US giants investing in the country after Prime Minister Modi’s visit.

Having invested nearly $11 billion in India to date, the US-based e-commerce giant plans to invest an additional $15 billion in India by 2030, CEO of Amazon Andy Jassy said. The significant majority of the new capital is predicted to be earmarked for AWS expansion in India. In May 2023, Amazon said it planned to invest $12.7 billion into its cloud enterprise in India by 2030.

Even as Amazon closed several businesses in India in recent quarters, the South Asian nation remains a vital overseas market for the firm. Amazon's global rival, Walmart, has also poured over $2.5 billion into the nation this year.

On Friday, the Chief Executive of Google, Sundar Pichai, said that the company will open a global fintech operation center in the Gujarat International Finance Tec-City (GIFT City) in the Indian state of Gujarat.

Prime Minister Modi’s visit to the United States has attracted several other high-profile commitments this week alone. US-based semiconductor firm Micron announced it will invest almost $825 million to build its first NAND and DRAM assembly and test facilities in India, while Applied Materials promised to invest $400 million over the next four years in a new engineering center in India.