Amazon to spend $35bn in India before 2030

(Sharecast News) - Amazon has announced plans to spend $35bn across its Indian businesses over the next five years as it ramps up investment in artificial intelligence and export growth. The tech giant said it would be spend $35bn in India through to 2030, following the nearly $40bn it has invested in the country so far.

The company claimed that its investments up until now have digitised 12m small businesses and enabled $20bn in exports, supporting around 2.8m jobs (through direct, indirect, induced and seasonal work) across the country.

According to an Economic Impact Report by Keystone Strategy, Amazon has established itself as the largest foreign investor in India, the biggest "enabler" of ecommerce exports and among the top employers in the country.

The news came as the company delivered its Amazon Smbhav Summit in New Delhi, where it said it would focus its future investment in India on three key areas: "AI-driven digitisation, export growth, and job creation".

"We are humbled to have been a part of India's digital transformation journey over the past 15 years, with Amazon's growth in India perfectly aligned with the vision of an Atmanirbhar and Viksit Bharat," said Amit Agarwal, senior VP of emerging markets at Amazon.

"We have invested at scale in growing the physical and digital infrastructure for small businesses in India, creating millions of jobs, and taking Made-in-India global."

On Tuesday, Microsoft unveiled plans to spend $17.5bn in India before the end of the decade.