These high-profile investments by Amazon and Google signal a strong vote of confidence in India's potential as a thriving digital market.
New Delhi: In a significant boost to India's digital economy, global tech giants Amazon and Google have revealed plans for substantial investments in the country. The announcements came after respective meetings between the chief executives of Amazon and Google and Indian Prime Minister Narendra Modi during his visit to the United States.
Amazon CEO Andy Jassy took to Twitter to declare that his company would be investing a staggering $26 billion in India by 2030. Jassy's tweet highlighted the fruitful discussions held with Prime Minister Modi and emphasized Amazon's commitment to bolstering the Indian startup ecosystem, job creation, export facilitation, and global competitiveness for individuals and small businesses. The $26 billion investment includes the previously announced $12 billion dedicated to cloud infrastructure development in India. According to a company statement, this investment is expected to support an average of 131,700 jobs in the Indian business sector annually.
Google, on the other hand, revealed its intentions to establish a global fintech operation center at the Gujarat International Finance Tec-City (GIFT City) in Prime Minister Modi's home state of Gujarat. Sundar Pichai, the CEO of Google and Alphabet, expressed his honor in meeting Prime Minister Modi during the historic visit to the United States. Pichai applauded the Indian leader's vision for Digital India, describing it as ahead of its time and a blueprint that other countries are now looking to replicate. Pichai also disclosed that Google would be investing $10 billion in India's digitization fund, furthering the country's technological advancement.
The official Twitter account of the prime minister's office confirmed the meetings between Prime Minister Modi and the CEOs of Amazon and Google. It highlighted the discussions held on topics such as artificial intelligence, fintech, and the promotion of research and development. “PM @narendramodi interacted with CEO of Alphabet Inc. and @Google @sundarpichai. They discussed measures like artificial intelligence, fintech and promoting research and development”, the prime minister's office tweeted.
These high-profile investments by Amazon and Google signal a strong vote of confidence in India's potential as a thriving digital market. The financial injections are expected to have far-reaching impacts, including job creation, economic growth, and the empowerment of individuals and businesses across the country. As India continues to solidify its position as a global technology hub, such strategic partnerships with industry leaders will play a vital role in its digital transformation journey.
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