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Amazon raises investment in India to $26 billion by 2030

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NEW DELHI :Amazon.com Inc said on Friday it will take its investments to $26 billion in India by 2030, adding $6.5 billion in new planned investments in an announcement made after CEO Andy Jassy met Prime Minister Narendra Modi in the United States.Though Jassy gave no breakdown, the announcement follows Amaz

NEW DELHI :Amazon.com Inc said on Friday it will take its investments to $26 billion in India by 2030, adding $6.5 billion in new planned investments in an announcement made after CEO Andy Jassy met Prime Minister Narendra Modi in the United States.

Earlier, Amazon had announced a $6.5 billion investment plan, largely to boost its e-commerce business where it competes with Walmart's Flipkart and billionaire Mukesh Ambani's Reliance Retail.The e-commerce giant's announced investment during Modi's trip adds to other companies, including U.S. semiconductor toolmaker Applied Materials and memory chip firm Micron Technology, which have made commitments during the Indian prime minister's state visit.

Separately, Google will open a global fintech operation center in GIFT City in India's western state of Gujarat, CEO Sundar Pichai told reporters in a video shared on Twitter by Reuters partner ANI company.

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