Amazon to invest USD 35 billion in India by 2030 to boost AI, exports and jobs
The e-commerce major, which has already invested USD 40 billion, will focus on AI, boosting exports to $80 billion, and creating 1 million additional jobs.
E-commerce major Amazon has announced plans to invest USD 35 billion, over Rs 3.14 lakh crore, in India by 2030 across its various businesses, with a strong focus on AI-led digitisation, boosting exports and generating employment, a senior company official said on Wednesday (December 10).
Amazon outpaces Microsoft and Google
Speaking at the Amazon Smbhav Summit, Amit Agarwal, Senior Vice President for Emerging Markets, said the company aims to quadruple India’s exports to USD 80 billion from the current USD 20 billion it has enabled, and create an additional one million direct, indirect, induced and seasonal jobs by 2030.
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“Amazon has invested USD 40 billion in India since 2010. We will now invest a further USD 35 billion by 2030 across all our businesses in the country,” Agarwal stated.
Amazon's investment plan is two times of Microsoft's investment plan of USD 17.5 billion and close to 2.3 times that of Google's USD 15 billion investment plan by 2030.
Agarwal said the company has invested USD 40 billion in India to date and is the largest foreign investor in India, according to a Keystone report compiled from publicly available data.
Investment to boost AI infrastructure
In May 2023, Amazon announced plans to invest USD 12.7 billion in India by 2030 into its local cloud and AI infrastructure across Telangana and Maharashtra. The company has already invested USD 3.7 billion in India between 2016 and 2022.
Agarwal said that the company has invested at scale towards building physical and digital infrastructure, including fulfilment centres, transportation networks, data centres, digital payments infrastructure and technology development.
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According to the Keystone report, Amazon has digitised over 12 million small businesses and enabled USD 20 billion in cumulative ecommerce exports, while supporting approximately 2.8 million direct, indirect, induced and seasonal jobs across industries in India in 2024.
'Accelerate exports' initiative launched
To push export growth from India, Amazon launched a manufacturing-focused initiative, "Accelerate Exports", designed to connect digital entrepreneurs with trusted manufacturers while enabling manufacturers to become successful global sellers.
As part of the program, Amazon will host on-ground onboarding drives in over 10 manufacturing clusters across India, including Tirupur, Kanpur, and Surat.
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At the Smbhav summit, Amazon announced a key partnership with the Apparel Export Promotion Council of India to expand and scale the program nationwide.
(With agency inputs)