Amazon CEO meets Modi, announces additional $13B India investment
What's the story
Amazon CEO Andy Jassy has announced a massive $13 billion investment in India. The announcement was made during his meeting with Prime Minister Narendra Modi on Thursday. The investment is part of Amazon's plan to expand its artificial intelligence (AI) and cloud infrastructure by 2030. With this, the e-commerce giant's total planned investment in the country will reach $48 billion over the next five years. This comes less than six months after Amazon pledged $35 billion in new India investments.
Investment details
Other plans include enabling e-commerce exports and supporting jobs
Jassy has also revealed that by 2030, Amazon plans to support around 3.8 million jobs and enable $80 billion in e-commerce exports. The company also hopes to bring the benefits of AI to some 15 million small businesses and four million government school students. This investment will help expand AWS (Amazon Web Services) data center capacity in Mumbai and Hyderabad, giving access to custom AI chips, managed AI services, and secure cloud technologies, among other things.
Strategic alignment
Amazon committed to being long-term partner in India's growth story
Jassy said, "As we grow Amazon in India, our business priorities continue to align with India's priorities of democratizing access to AI, digitizing small businesses, creating jobs, and enabling exports." He emphasized that the company is inspired by PM Modi's vision of a self-reliant Bharat and is committed to being a long-term partner in India's growth story. Of Amazon's total $48 billion investment, around $21 billion will go toward AI and cloud investment plans in India.