Amazon plans to invest $35 billion in India through 2030 to support business expansion, artificial intelligence (AI) digitization, export growth and job creation.
This will build on the $40 billion the company has already invested in India in terms of compensation to employees and development of infrastructure, it said in a Wednesday (Dec. 10) press release.
Amazon’s investments to date have built fulfillment centers, transportation networks, data centers, digital payments infrastructure and technology development, according to the release.
The company has digitized 12 million small businesses, enabled $20 billion in cumulative eCommerce exports and supported 2.8 million direct, indirect, induced and seasonal jobs, per the release.
The investments planned through 2030 will focus on AI capabilities, logistics infrastructure, support for small business growth and job creation, according to the release.
By 2030, Amazon plans to bring more AI-powered tools to 15 million small businesses, add AI-enhanced shopping experiences for hundreds of millions of consumers, and provide AI education and career exploration opportunities to 4 million government school students, per the release.
“Looking ahead, we’re excited to continue being a catalyst for India’s growth, as we democratize access to AI for millions of Indians and quadruple cumulative eCommerce exports enabled to $80 billion by 2030,” Amit Agarwal, senior vice president emerging markets at Amazon, said in the release. “In 2030, Amazon businesses will support 3.8 million direct, indirect, induced and seasonal jobs.”
Amazon announced its earlier investment in India in June 2023, when the company said it intended to invest $26 billion in the country by 2030.
That statement followed earlier announcements that Amazon Web Services was investing $12.9 billion in the country and that Amazon was investing $6.5 billion to boost its Indian eCommerce business.
Amazon’s latest announcement came a day after Microsoft pledged to invest $17.5 billion for AI and cloud computing in India.
Microsoft’s new funds are set to be disbursed over a four-year period from 2026 through 2029. They follow an additional $3 billion the company committed to cloud and AI development in India at the start of the year.
“Together, Microsoft and India are poised to set new benchmarks and drive the country’s leap from digital public infrastructure to AI public infrastructure in the coming decade,” the company said in a Tuesday (Dec. 9) press release. “We are shaping a future that is more equitable and uniquely Indian in its scale and impact.”
Source: https://www.pymnts.com/