Amazon Cloud Unit to Invest Over 12.7 Billion Dollars in India by 2030

Amazon Cloud Unit to Invest Over 12.7 Billion Dollars in India image

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Amazon.com Inc (AMZN) sets to expand its operations in India, joining the list of tech companies betting big on one of the world's fastest-growing economies.
The Amazon cloud computing segment said it will invest 1.06 trillion rupees ($12.7 billion) in India before the end of the decade on Thursday, 18th, 2023.
Amazon estimates its latest investment will contribute $23.3 billion to the country's GDP by 2030 and support over 131,000 full-time jobs annually.
This is a call for growth/development to both Amazon and India, as it will enhance the country's financial and employment growth.

Is said that Amazon has invested $3.7 billion in India since 2016, when it expanded Amazon Web Services to Mumbai. The company also said it has trained more than 4 million Indians with cloud skills since its operation.

The move by Amazon is the latest attempt by a U.S. tech company to tap into one of the fastest-growing economies in the world.

Apple CEO Tim Cook assured Indian Prime Minister Narendra Modi last month of Apple's commitment to investing in the country, where it recently opened its first physical stores.

One of Apple's biggest suppliers Foxconn, will spend $500 million on a factory in the Indian state of Telangana, state officials said Monday.

Last month India overtook China as the most populous country in the world and is forecast to be the third-largest economy globally by 2027.
The cloud services market in India is also estimated to expand at a compound annual growth rate of 24% to reach $13 billion by 2026.