Amazon pledges to invest another $35 bn in India

Amazon plans to invest $ 35 billion in India over the next five years to expand its businesses from quick commerce to cloud computing and artificial intelligence, as the global supermajor doubles down on its presence in the world's fastest-growing economy. The investment by the US e-commerce giant comes a day after Microsoft pledged $17.5 billion in India for data centres, AI and cloud infrastructure by 2030. Previously, Google had committed $15 billion over the next five years to building AI data centres. Amazon said its investments in areas such as artificial intelligence and logistics infrastructure through 2030 will help create an additional 1 million jobs in India.

The e-commerce giant is ramping up investment to compete with Walmart-backed Flipkart as well as homegrown giants like those of billionaire Mukesh Ambani and near-instant delivery firms like Eternal Ltd's Blinkt, Swiggy Ltd's Instamart and Zepto.

Amazon has invested $40 billion in India since 2010. In 2023, it announced a $26 billion investment. The fresh investment will help increase exports for sellers in India to $ 80 billion by 2030 from $ 20 billion.

The investments, it said, are "strategically aligned with India's national priorities and will focus on expanding AI capabilities, enhancing logistics infrastructure, supporting small business growth and creating jobs."