Amazon pledges USD 35 bn investment in India by 2030

Amazon plans to invest USD 35 bn in India over the next five years to expand its businesses from quick commerce to cloud computing and artificial intelligence, as the global supermajor doubles down on its presence in the world’s fastest-growing economy.
The investment by the US e-commerce giant comes a day after Microsoft pledged USD 17.5 bn in India for data centres, AI and cloud infrastructure by 2030. Previously, Google had committed USD 15 bn over the next five years to building AI data centres.
Amazon said its investments in areas such as artificial intelligence and logistics infrastructure through 2030 will help create an additional 1 million jobs in India. The e-commerce giant is ramping up investment to compete with Walmart-backed Flipkart as well as homegrown giants like those of billionaire Mukesh Ambani and near-instant delivery firms like Eternal Ltd’s Blinkt, Swiggy Ltd’s Instamart and Zepto. Amazon has invested USD 40 bn in India since 2010. In 2023, it announced a USD 26 bn investment. The fresh investment will help increase exports for sellers in India to USD 80 bn by 2030 from USD 20 bn.
The investments, it said, 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.” “We’re excited to continue being a catalyst for India’s growth, as we democratize access to AI for millions of Indians,” said Amit Agarwal, head of emerging markets at Amazon. Making the announcement during the Amazon Smbhav Summit, Agarwal said the company has set a target to quadruple exports from India to USD 80 bnfrom about USD 20 bn it has facilitated as of now and create an additional one million direct, indirect, induced and seasonal jobs by 2030.