Amazon to invest $15 billion more in India, says CEO Andy Jassy after meeting PM Modi

Ecommerce major Amazon on Saturday said it plans to invest $15 billion more in India, taking its total investment in the country to $26 billion, after CEO Andy Jassy met Prime Minister Narendra Modi during his visit to the US.

“I had a very good and productive conversation with Prime Minister Modi. I think we share a number of goals. Amazon is one of the biggest investors in India. We have invested $11 billion till date and intend to invest another $15 billion, which will bring the total to $ 26 billion. So we are very much looking forward to the future of partnering,” Jassy said.

India’s External Affairs Ministry in a tweet said the prime minister held a productive meeting with the president and CEO of Amazon.

“Discussions focused on the area of e-commerce and the potential of further collaboration with @amazon in the logistics sector in India,” it said.

“Very interested in helping create more jobs, helping digitise more small and medium size businesses and helping more Indian companies and products be able to be exported all around the world,” said Jassy.

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Meanwhile, Alphabet CEO Sundar Pichai on Friday met Modi in Washington and subsequently announced that the tech giant would be investing $10 billion in India’s digitisation fund.

“It was an honour to meet PM Modi during the historic visit to the US. We shared with the Prime Minister that Google is investing $10 billion in India’s digitisation fund,” the Chennai-born CEO said.

The internet giant will also set up its global fintech operation centre at GIFT City in Gujarat, Pichai said.

“Today we are announcing the opening of our global fintech operations centre in GIFT City, Gujarat. It will cement India’s fintech leadership, thanks to UPI, and Aadhaar. We are going to build on that foundation and take it globally,” Pichai said.

The ministry of external affairs in a tweet said Prime Minister Modi invited Pichai to explore further avenues of collaboration in the domains of artificial intelligence, fintech, and cybersecurity products and services, as well as mobile device manufacturing in India.

They also discussed collaboration between Google and academic institutions in India to promote research and development, and skill development, the ministry added.

Modi is visiting the US from June 21 to June 24 at the invitation of President Joe Biden and First Lady Jill Biden. Besides Pichai, the prime minister at an interaction with top CEOs also met Microsoft CEO Satya Nadella, Apple CEO Tim Cook, OpenAI CEO Sam Altman, and AMD CEO Lisa Su, among others.

(With agency inputs)

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