Amazon to Make Mega-Investment of USD 35 Billion in India by 2030
New Delhi: E-commerce giant Amazon plans to make a mega investment of $35 billion worth over Rs 3.14 lakh crore in India by 2030, focusing on AI-enabled digitalisation, export growth and employment generation, a senior company official said on Wednesday. Making the announcement during the Amazon Smbhav Summit, Amit Agarwal, Senior Vice President of Emerging Markets, said the company aims to quadruple exports from India from around US$ 20 billion to US$ 80 billion so far and create one million additional direct, indirect, induced and seasonal jobs by 2030.
“Amazon has invested USD 40 billion so far in India since 2010. We will now invest another USD 35 billion across all our businesses in India by 2030,” Agarwal said.
Amazon’s investment plan is 2 times larger than Microsoft’s US$17.5 billion investment plan and close to 2.3 times Google’s US$15 billion investment plan by 2030.
According to the Keystone report compiled from publicly available data, Agarwal said the company has invested $40 billion in India to date and is the largest foreign investor in India.
In May 2023, Amazon announced plans to invest $12.7 billion in India by 2030 in cloud-native and AI infrastructure in Telangana and Maharashtra. The company has already invested $3.7 billion in India between 2016 and 2022.
Agarwal said the company is investing at scale in building physical and digital infrastructure, including fulfillment centres, transportation networks, data centres, digital payment infrastructure and technology development.
According to the Keystone report, Amazon will support approximately 2.8 million direct, indirect, induced and seasonal jobs across industries in India by 2024, while digitizing more than 12 million small businesses and driving cumulative e-commerce exports of $20 billion.
To spur the growth of exports from India, Amazon has launched ‘Accelerate Exports’, a manufacturing-focused initiative designed to connect digital entrepreneurs with trusted manufacturers while enabling manufacturers to become successful global sellers.
As part of the programme, Amazon will host on-site engagement drives at more than 10 manufacturing clusters across India, including Tirupur, Kanpur and Surat.
At the Smbhav summit, Amazon announced a key partnership with the Apparel Export Promotion Council of India to expand and scale the program across the country.
