- Amazon to invest $35 billion in India by 2030
- The company wants to support more jobs and offer more AI training
- Google and Microsoft recently confirmed similar investments worth about half of Amazon’s each
Amazon has committed to an investment of $35 billion in India by 2030, with the main focus on cloud and artificial intelligence, but the money will also go towards logistics improvements.
This builds on $40 billion of existing investments Amazon has made since 2010, making it the largest foreign investor in the country.
In a press release, the company noted past successes, including helping with the digitization of over 12 million small businesses in the country and supporting around 2.8 million direct, indirect and seasonal jobs by 2024 alone.
Amazon will almost double its existing investment in India by 2030
“We are humbled to have been a part of India’s digital transformation journey over the last 15 years, with Amazon’s growth in India perfectly aligned with the vision of an Atmanirbhar and Viksit Bharat,” said SVP of Emerging Markets Amit Agarwal.
By 2030, the company wants to support 3.8 million direct, indirect, induced and seasonal jobs annually. The company also wants to quadruple the number of cumulative e-commerce exports it enables to $80 billion by 2030, up from $20 billion according to recent statistics.
India is among the fastest growing AI consumer markets in APAC and it is likely that Amazon sees a large opportunity due to a lack of computing infrastructure.
Key to Amazon’s strategy in India is supporting the government’s ‘AI for All’ vision. Amazon wants to put AI in the hands of 15 million small businesses by the end of the decade and provide four million school children with AI education opportunities.
But Amazon isn’t the only company plowing billions into India – Google recently committed a $15 billion spend to establish its first AI Hub in the country and connect the country to several undersea cable networks. Coinciding with Amazon’s announcement, Microsoft also announced a $17.5 billion investment to drive population-scale AI deployment.
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