Having invested in its business expansion within India for the past 15 years, in December last year, Amazon announced their plans to offer continued support and investment in the country.
A $35 Billion Investment
Building on nearly $40 billion invested so far, Amazon will invest a further $35 billion across all its businesses by 2030. The focus will be on expanding their business and three strategic pillars. These include:
- AI driven digitisation – delivering the benefits of AI by helping digitise 15 million small businesses, up from their current 12 million
- Export growth – the goal is to boost cumulative exports from $20 billion to $80 billion
- Job creation – in 2024, they supported the creation of 2.8 million direct, indirect, induced and seasonal jobs across industries in India, including technology, operations, logistics and customer support. They plan to increase this to 3.8 million with their new investment.
The Largest Foreign Investor in India
In an Economic Impact Report by Keystone Strategy, they revealed that Amazon’s investments have made the company the largest foreign investor in India, the largest enabler of ecommerce exports, and they’re among the top job creators in the country.
Amit Agarwal, Senior VP Emerging Markets at Amazon, said, “Looking ahead, we’re excited to continue being a catalyst for India’s growth, as we democratise access to AI for millions of Indians and quadruple cumulative ecommerce.”
This investment aligns well with India’s national priorities, supporting the government’s vision of ‘AI for All’. Making AI accessible to all and expanding the digital landscape is top of the bill, not just for businesses, but for customers and students as well. They plan to bring in AI education and career exploration opportunities through AI curriculum, technology career tours, hands-on AI sandbox experiences and teacher training programmes.
Amazon aren’t the only company to offer investment in the country. They’re competing with Walmart-backed Flipkart, and the retail billionaire Mukesh Ambani’s Reliance Industries. Microsoft have also pledged an investment of $17.5 billion for AI and cloud infrastructure by 2030, whilst Google has committed $15 billion over the next five years to build AI data centres.
As the most populous nation, India is an integral market for Amazon due to its rapidly expanding internet user base. And with the progression of AI, it’s important for them to stay ahead of the game.
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