Amazon CEO Andy Jassy Announces $15 Billion Investment in India During Meeting with Prime Minister Narendra Modi | Mint
Active Stocks
Thu Feb 22 2024 11:26:37
  1. Bharti Airtel share price
  2. 1,118.40 -1.87%
  1. Tata Steel share price
  2. 144.15 0.21%
  1. HDFC Bank share price
  2. 1,417.95 -1.41%
  1. State Bank Of India share price
  2. 760.90 -1.38%
  1. Power Grid Corporation Of India share price
  2. 275.65 -1.61%
Business News/ Technology / Amazon CEO Andy Jassy Announces $15 Billion Investment in India During Meeting with Prime Minister Narendra Modi
BackBack

Amazon CEO Andy Jassy Announces $15 Billion Investment in India During Meeting with Prime Minister Narendra Modi

Amazon plans to invest an additional $15bn in India, bringing its total investment in various businesses in the country to $26bn by 2030. CEO Andy Jassy and Indian PM Narendra Modi discussed the promotion of Indian startups, job creation, facilitating exports and digital transformation.

Prime Minister Narendra Modi with the CEO of Amazon Andrew Jassy during a meeting, at White House in Washington, Friday, June 23, 2023. (PTI Photo) (PTI)Premium
Prime Minister Narendra Modi with the CEO of Amazon Andrew Jassy during a meeting, at White House in Washington, Friday, June 23, 2023. (PTI Photo) (PTI)

Amazon's CEO, Andy Jassy, informed Prime Minister Narendra Modi during their meeting on Friday that Amazon.com Inc intends to enhance its presence in India by investing an extra $15 billion. 

This additional investment will bring the company's total investment in various businesses in India to $26 billion by 2030, according to Jassy.

According to a blog post by Amazon, Prime Minister Narendra Modi and CEO Andy Jassy discussed several key areas during their conversation. These included the promotion of Indian startups, job creation, facilitating exports, digital transformation, and empowering individuals and small businesses to thrive in the global market.

In addition to the recent investment plans of Amazon Web Services (AWS), Amazon's cloud computing unit, which aims to invest 1.06 trillion rupees ($12.9 billion) in India by 2030, Amazon.com Inc has made another significant announcement.

Interestingly, Google's CEO Sundar Pichai also revealed in a video shared on Twitter by Reuters partner ANI company that Google intends to establish a global fintech operation center in GIFT City, located in the western state of Gujarat, India.

"We shared Google is investing $10 billion in the India digitization fund, and we are continuing to invest through that," Pichai stated.

During Prime Minister Narendra Modi's visit to Washington, D.C., on the last day of his trip, he held meetings with top technology executives from both the United States and India. Among those present were Tim Cook from Apple, Sundar Pichai from Google, and Satya Nadella from Microsoft. 

Modi urged these global companies to consider manufacturing their products in India, emphasizing his "Make in India" initiative. Reuters had requested further details about Google's new center, but there was no immediate response during non-business hours.

Meanwhile, Amazon is back with another sale in India, called Amazon.in’s 5G Revolution Sale. With a wide range of 5G-enabled smartphones and deals, customers can avail discounts on top smartphone brands, live until 25th June 2023.

Along with additional exchange bonus of up to 10,000 and up to 10% on SBI credit cards EMI transactions, customers can upgrade their smartphones and choose from a selection of latest smartphones such as OnePlus 11 5G, OnePlus 11R 5G, iQOO Z7s, iQOO Neo 7 5G, iQOO 11 5G, Samsung S23 Ultra 5G, Samsung Galaxy Z Flip4 5G and Tecno Phantom V Fold 5G.

 

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Technology News and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 24 Jun 2023, 11:56 AM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App