Daily Newsletter

26 June 2023

Daily Newsletter

26 June 2023

Amazon to invest additional $15bn in India over next seven years

The commitment is intended to strengthen Amazon’s e-commerce business in the country.

Jangoulun Singsit June 26 2023

E-commerce giant Amazon CEO Andy Jassy has revealed that the company plans to invest an additional $15bn in India in the next year seven years.

This takes the total investment in the country to $26bn across all Amazon businesses.

The announcement was made during a meeting in the US between Andy Jassy and Indian Prime Minister Narendra Modi.

The move will create two million jobs in India and aligns with Modi’s vision of a digital and self-reliant India.

The retailer committed to digitising ten million small businesses and enabling $20bn in exports in India by 2025.

The two officials also spoke about supporting Indian start-ups, creating jobs, enabling exports, digitisation efforts, the logistics sector and empowering individuals and small businesses to compete globally.

So far, the company has created more than 1.3 million direct and indirect jobs, digitised more than 6.2 million small businesses and enabled more than $7bn in exports.

Last month, The Hindu reported that Amazon's cloud computing unit Amazon Web Services (AWS) plans to invest $16.4bn in the country by the end of 2030.

The investment was intended to address the country's fast-growing customer demand for cloud services and support an estimated average of 1,31,700 full-time equivalent (FTE) jobs each year.

Earlier this year, Amazon launched its dedicated air cargo service, Amazon Air, to various Indian cities, including Delhi, Mumbai, Bangalore and Hyderabad.

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