Amazon to Invest Additional $15 Billion in India Says CEO Andy Jassy
Amazon.com will invest an additional $15 billion (roughly Rs. 12,297 crore) in India, the company's Chief Executive Andy Jassy told Prime Minister Narendra Modi in his meeting on Friday.
The investment will take the e-commerce giant's total India investment across all businesses to $26 billion (roughly Rs. 21,314 crore) by 2030, he said.
Modi and Jassy spoke about supporting Indian startups, creating jobs, enabling exports, digitization, and empowering individuals and small businesses to compete globally, an Amazon blog post said.
This announcement follows Amazon's cloud computing unit Amazon Web Services (AWS) saying last month it will invest 1.06 trillion rupees ($12.9 billion) in the country by the end of 2030.
Separately, Google will open a global fintech operation center in GIFT City in India's western state of Gujarat, CEO Sundar Pichai told reporters in a video shared on Twitter by Reuters partner ANI company.
"We shared Google is investing $10 billion (roughly Rs. 81,980 crore) in the India digitization fund, and we are continuing to invest through that," Pichai said.
Google did not immediately respond to a Reuters request for comment on further details of the new center, outside of business hours.
On the final day of his Washington trip, Modi met with US and Indian technology executives, including Apple's Tim Cook, Google's Pichai, and Microsoft's Satya Nadella, and appealed to global companies to "Make in India".
Recently, Amazon also made an announcement making it easy for Indian customers to exchange their Rs. 2,000 notes through top up on their Amazon Pay balances during cash-on-delivery orders. Customers can deposit cash of up to Rs. 50,000 per month, including notes of Rs. 2,000 denomination, Amazon said.
© Thomson Reuters 2023
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posted by arunkumar @ June 23, 2023
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