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Amazon will invest an additional $15 billion in India, says CEO Andy Jassy – UnlistedNews

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 at their meeting on Friday.

The investment will bring the e-commerce giant’s total investment in India across all businesses to $26 billion (roughly Rs. 21,314 crore) by 2030, it said.

Modi and Jassy discussed supporting Indian startups, creating jobs, enabling exports, going digital 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), which said last month that 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 operations center in GIFT City in India’s western state of Gujarat, chief executive Sundar Pichai told reporters in a video shared on Twitter by Reuters partner ANI.

“We share that Google is investing $10 billion (roughly Rs. 81,980 crore) in India’s digitization fund, and we continue to invest through that,” Pichai said.

Google did not immediately respond to a Reuters request for comment on more details of the new center, outside of business hours.

On the last day of his trip to Washington, Modi met with American and Indian technology executives, including Apple’s Tim Cook, Google’s Pichai and Microsoft’s Satya Nadella, and called on global companies to “make India “.

Amazon recently also made an announcement that makes it easier for Indian customers to exchange their Rs. 2,000 tickets by topping up your Amazon Pay balances during cash on delivery orders. Customers can deposit cash up to Rs. 50,000 per month including notes of Rs. 2,000 denomination, Amazon said.

© Thomson Reuters 2023

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Sara Marcushttps://unlistednews.com
Meet Sara Marcus, our newest addition to the Unlisted News team! Sara is a talented author and cultural critic, whose work has appeared in a variety of publications. Sara's writing style is characterized by its incisiveness and thought-provoking nature, and her insightful commentary on music, politics, and social justice is sure to captivate our readers. We are thrilled to have her join our team and look forward to sharing her work with our readers.


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