Amazon plans to increase its investment in India to $26 billion by 2030.

Amazon to Invest $26 Billion in India by 2030

Amazon.com Inc announced on Friday that it plans to increase its investments in India to $26 billion by 2030. This comes after CEO Andy Jassy met with Prime Minister Narendra Modi in the United States. The new planned investments amount to $6.5 billion, adding to the $12.9 billion commitment made by Amazon Web Services (AWS) last month.

Previously, Amazon had announced a $6.5 billion investment plan to boost its e-commerce business, competing with Walmart’s Flipkart and Reliance Retail. With this new commitment, the total investment by Amazon in India will reach around $13 billion.

During Prime Minister Modi’s state visit, several companies, including Applied Materials and Micron Technology, have made investment commitments. Modi and Jassy discussed supporting Indian startups, job creation, exports, digitization, and empowering small businesses to compete globally.

In a separate development, Google revealed its plan to open a global fintech operation center in GIFT City, Gujarat, India. Sundar Pichai, CEO of Google, stated that the company is investing $10 billion in the India digitization fund.

On the final day of his Washington trip, Prime Minister Modi met with technology executives from Apple, Google, and Microsoft, urging global companies to “Make in India”.

(Reporting by Aditya Kalra and Jahnavi Nidumolu; Editing by William Mallard, Jacqueline Wong and Toby Chopra)

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