With its huge population, burgeoning middle class and fast-growing digital landscape, India has emerged as an attractive market and a highly sought-after destination for overseas global tech giants. increase. This was underscored once again when e-commerce giant Amazon announced plans to invest an additional $15 billion in the South Asian market, bringing its total investment in the country to a whopping $26 billion. The announcement comes after a meeting between Amazon CEO Andy Jassy and Prime Minister Narendra Modi during their visit to the US, and a week later several foreign companies (i.e. Tesla, SpaceXand micron) pondered making its debut in the world’s second largest Internet market.
Amazon has announced plans to more than double its investment in India over the next seven years to further boost the $11 billion it has poured into India. Despite the recent closure of some of Amazon’s operations in India, India remains one of its key overseas markets. – to date. Amazon CEO Andy Jassi said his meeting with Indian Prime Minister Narendra Modi was “productive”, saying the center and Amazon are helping Indian startups. said it intends to create jobs, enable exports and digitalisation, and empower individuals and small businesses. Competing on the international stage is the same.
Fulfilling meeting with the Prime Minister @narendramodi. Discussed Amazon’s commitment to invest $26 billion in India by 2030. Together we support startups, create jobs, enable exports, and help individuals and small businesses compete globally. pic.twitter.com/yEgy0TVqpK
— Andy Jassy (@ajassy) June 23, 2023
Amazon’s investments in India are significant and have helped strengthen the country’s attractiveness as a destination for foreign direct investment (FDI), especially in the face of challenging global economic conditions as alternatives to China are explored. also shows foreign confidence in India’s business environment. Increased FDI inflows from Amazon’s investments are expected to create synergies in the Indian economy, stimulating economic growth, fostering entrepreneurship and contributing to the country’s GDP. The announcement comes after Amazon Web Services (AWS), Amazon’s cloud computing arm, announced plans to invest a total of $12.7 billion in India by 2030.
India’s digital landscape is also evolving rapidly, and Amazon’s investment will play a key role in facilitating this transformation. The capital injection is also expected to contribute to the development of advanced technologies and digital infrastructure such as cloud computing, AI, ML and IoT solutions. It will enable Indian businesses to leverage cutting-edge technology, enhance their competitiveness, drive innovation in all sectors and work towards the Center and Prime Minister Modi’s goal of a digitally self-sufficient India. and Rajeev Chandrasekhar believes it will help. Further deepen technical cooperation between India and the United States.
This large investment commitment @amazonIN PM agrees to invest $26 billion and create 2 million jobs in India by 2030 @narendramodi ji’s vision of a digital, self-sufficient India is #AI(USA and India) Technical cooperation# Modine USA… https://t.co/HUJlI88k1K
— Rajeev Chandrasekhar 🇮🇳 (@Rajeev_GoI) June 24, 2023
Amazon has ambitious goals when it comes to creating an influx of new jobs, according to an official statement. The company said it has pledged to digitize 10 million SMEs in India by 2025, enabling $20 billion in exports and creating 2 million jobs. The company has already created over 1 million direct and indirect job opportunities in India. It claims to have digitized more than 6.2 million SMEs, enabled more than $7 billion in exports, and created more than 1.3 million direct and indirect jobs to date.
Amazon will continue to create significant numbers of jobs across a variety of roles, including warehousing, logistics, customer support and technology, as it expands its investments. Additionally, the company’s commitment to upskilling and training programs will equip Indian workers with the skills they need for the digital economy, creating a more inclusive and empowered workforce.
In similar news, a global fintech operations center could be opened in Gift City, Gujarat. Google CEO Sundar Pichai said the company will have a team working to support GPay payment service and work on other Google products. The company also plans to invest $10 billion in India’s digitalization fund. “The Prime Minister’s vision for Digital India was far ahead of its time. It provided a blueprint for other countries to do,” Pichai said.
