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Wednesday, June 7, 2023

Amazon Plans To Invest $13bn in India

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Amazon Web Services, the cloud computing division of Amazon Inc, said on Thursday it plans to invest $13 billion in India by 2030, doubling down on its past investments to cater to an ever-growing demand.

The latest investment will be used to build its cloud infrastructure in India and it will support over 100,000 full-time jobs annually, AWS said.

The company runs two data centers in the Indian subcontinent – one in Mumbai which was launched in 2016, and another in Hyderabad, which started in 2022.

AWS’ total planned investment in India adds up to about $16.4 billion by 2030, the company said in a statement.

The cloud platform offers more than 200 services, including storage, robotics and artificial intelligence.

The proposed investment comes as India steps up efforts to attract more big-ticket investments.

U.S. networking equipment maker Cisco Systems earlier this month said it would start manufacturing from India to diversify its global supply chain, while Apple Inc supplier Foxconn (2317.TW) will invest $500 million to set up plants in the southern Indian state of Telangana.

Separately, India’s government has been nudging foreign tech companies to store more of their data locally, a move seen as New Delhi’s attempt to gain stricter oversight of Big Tech firms. The country is currently in the process of drafting a cloud and data center policy to oversee the sector.

A host of global companies, including Microsoft Corp and Alphabet Inc’s Google are ramping up cloud investments in India, betting on the rising digital consumption in one of the fastest-growing markets.

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