Amazon Intends to Invest USD 15 Billion More in India

E-commerce giant Amazon plans to invest another US$15 billion in India, bringing its total investment in the country to US$26 billion, PTI reported, citing a senior company official.

After meeting Prime Minister Narendra Modi in the US, Amazon CEO Andy Jassy said that the company has already invested US$11 billion in India so far.

I had a very good and productive conversation with Prime Minister Modi. I think we share a number of goals. The news agency of India quoted Jassi as saying on Friday that Amazon is one of the largest investors in India.

“We have invested 11 billion US dollars to date and intend to invest another 15 billion US dollars, which will bring the total to 26 billion US dollars. So we are very much looking forward to the future of the partnership.”

External Affairs Ministry spokeswoman Arindam Bagchi said the Prime Minister had a productive meeting with the President and CEO of Amazon. “Discussions focused on the field of e-commerce and the possibility of further collaboration with @Amazon in the logistics sector in India,” Bagchi tweeted.

Modi welcomed Amazon’s initiative to promote digitization of MSMEs in India.

Earlier on Friday, the prime minister met with tech chiefs from the US and India in Washington on the final day of his state visit.

US President Joe Biden and Modi met CEOs including Tim Cook of Apple and Sundar Pichai and Satya Nadella of Microsoft.

The CEOs discussed the tremendous opportunities and ways to deepen institutional cooperation in advanced technology and research and development between the two countries.

The Prime Minister emphasized the huge potential of harnessing India-US technology cooperation for socio-economic growth.

Prime Minister Modi also attended a lunch at the Foreign Office with Vice President Kamala Harris, the first Asian American to hold the number two position in the White House, and Foreign Secretary Anthony Blinken.

(with agency input)

(This story was not edited by the News18 staff and was published from a syndicated news agency feed – PTI)