Amazon pledges a massive $35 billion worth of investments in India’s AI space through 2030
Employees wear The Amazon Inc. sign above the reception counter at the company’s campus in Hyderabad, India, Friday, September 6, 2019. It stands next to the logo.
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Amazon on Wednesday pledged to invest over $35 billion in India’s cloud and AI space by 2030 as hyperscalers race to gain a foothold in the market.
Commitment announced at the meeting Amazon The Smbhav Summit in New Delhi builds on nearly $40 billion already invested in the country.
One Press releaseAmazon said the new funds will target AI-driven digitalisation, export growth and job creation, in line with India’s national priorities to build the domestic AI environment.
By 2030, the plan is expected to create an additional 1 million direct, indirect, induced and seasonal jobs in India, quadruple exports to $80 billion and provide AI benefits to 15 million small businesses, Amazon said.
The investment underscores Amazon’s belief in India’s booming digital economy, where it is building fulfillment centres, data centers and payment infrastructure.
It also comes right after Microsoft Big Tech players have announced plans to invest $17.5 billion in India’s AI infrastructure as they accelerate their entry into the market.
“We are proud to be a part of India’s digital transformation journey over the last 15 years,” said Amit Agarwal, Amazon’s senior vice president of emerging markets.
“Looking ahead, we are excited to continue being a catalyst for India’s growth as we democratize access to AI for millions of Indians.”
