New Delhi: Amazon has announced to invest USD 35 billion in India over the next five years which would help create an additional 1 million jobs in the country. The e-commerce giant will invest a huge amount over the years to expand its businesses from quick commerce to cloud computing and artificial intelligence. The company plans to increase its presence in the world’s fastest-growing economy.
Notably, Amazon’s investment plans were announced after Microsoft assured USD 17.5 billion investment in India by 2030. Earlier, Google had committed USD 15 billion over the next five years to building AI data centres.
AI, Cloud Computing & Logistics in Amazon India’s Future
Amazon said it would pump in money in areas such as artificial intelligence and logistics infrastructure through 2030.
The US-based e-commerce giant is increasing investment to compete with Walmart-backed Flipkart and Reliance Industries and domestic delivery firms like Eternal Ltd’s Blinkt, Swiggy Ltd’s Instamart and Zepto.
Amazon’s Export Targets and Market Strategy
Since 2010, Amazon has infused USD 40 billion in India. The fresh investment will help increase exports for sellers in India to USD 80 billion by 2030 from USD 20 billion.
The investments are “strategically aligned with India’s national priorities and will focus on expanding AI capabilities, enhancing logistics infrastructure, supporting small business growth and creating jobs.”
“We’re excited to continue being a catalyst for India’s growth, as we democratize access to AI for millions of Indians,” said Amit Agarwal, head of emerging markets at Amazon.
Giving the details of Amazon’s plans, Agarwal said the e-commerce firm has set a target to quadruple exports from India to USD 80 billion from about USD 20 billion. He furtehr said that the expansion plans would faciliate in creating an additional one million direct, indirect, induced and seasonal jobs by 2030.
“Amazon to date has invested USD 40 billion in India since 2010. Now we will invest another USD 35 billion by 2030 across all our businesses in India,” Agarwal added.