Amazon raises investment in India to $26 billion by 2030

NEW DELHI, June 23 (Reuters) - Amazon.com Inc (AMZN.O) said on Friday it will take its investments in India to $26 billion 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 Amazons cloud computing unit Amazon Web Services (AWS) saying last month it will invest 1.06 trillion rupees ($12.9 billion) in the country by the end of 2030.

Earlier, Amazon had announced a $6.5 billion investment plan, largely to boost its e-commerce business where it competes with Walmarts Flipkart and billionaire Mukesh Ambanis Reliance Retail.

The new investment amount committed now comes to around an additional $6.5 billion.

The e-commerce giants announced investment during Modis 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 ministers state visit.

Modi and Jassy spoke about supporting Indian startups, creating jobs, enabling exports, digitisation, and empowering individuals and small businesses to compete globally, an Amazon blog post said.

Separately, Google (GOOGL.O) will open a global fintech operation center in GIFT City in Indias western state of Gujarat, with teams working on operations supporting its payment service GPay, and other product operations at Google, the company said in a statement to Reuters.

\“We shared Google is investing $10 billion in the India digitisation fund, and we are continuing to invest through that,\” CEO Sundar Pichai told reporters in a video shared on Twitter by Reuters partner ANI company.

On the final day of his Washington trip, Modi met with U.S. and Indian technology executives, including Apples (AAPL.O) Tim Cook, Googles Pichai and Microsofts (MSFT.O) Satya Nadella and appealed to global companies to \“Make in India\”.