Amazon Cloud Unit to Invest $12.7 Billion in India by 2030

Pile of boxes in Amazon warehouse in India.

Benjamin Lowy / Getty Images Inc (AMZN) is expanding its operations in India, joining the list of tech companies betting big on one of the world's fastest-growing economies.

The company's cloud computing segment said Thursday it will invest 1.06 trillion rupees ($12.7 billion) in India before the end of the decade. Amazon estimates its latest investment will contribute $23.3 billion to India's GDP by 2030 and support over 131,000 full-time jobs per year.

Key Takeaways

  • Amazon’s cloud unit will invest $16.4 billion in India by 2023.
  • The company previously dedicated $6.5bn to e-commerce in the country.
  • Data firm IDC predicts that India’s cloud market will be $13 billion by 2026.

Amazon has invested $3.7 billion in India since 2016 when it expanded Amazon Web Services to Mumbai. The company said it has trained more than 4 million Indians with cloud skills since then.

The move by Amazon is the latest attempt by a U.S. tech company to tap into one of the world’s fastest-growing economies.

Apple CEO Tim Cook assured Indian Prime Minister Narendra Modi last month of Apple's commitment to investing in the country, where it recently opened its first physical stores. And Foxconn, one of Apple's biggest suppliers, will spend $500 million on a factory in the Indian state of Telangana, state officials said Monday.

India overtook China last month as the world’s most populous country and is forecast to be the world's third-largest economy by 2027. India's cloud services market is expected to expand at a compound annual growth rate of 24% to reach $13 billion by 2026.

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Article Sources
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  1. AWS. "Amazon Web Services to Invest $12.7 billion in India."

  2. CNN. "Apple commits to investing across India as Tim Cook opens second store."

  3. CNBC. "Apple supplier Foxconn breaks ground on $500 million India factory."

  4. United Nations Department of Economic and Social Affairs. "UN DESA Policy Brief No. 153: India overtakes China as the world’s most populous country."

  5. JPMorgan Chase. "India's Impending Economic Boom."

  6. FT. "Triumph or Tragedy? India's Demographic Dilemmas".

  7. ET CIO. "India's Public Cloud market set to reach $13.5 bn by 2026".

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