Amazon Intends to Invest USD 15 Billion More in India – News18

E-commerce giant Amazon plans to invest USD 15 billion more in India, taking its total investment in the country to USD 26 billion, PTI reported citing a top official of the company.

After meeting Prime Minister Narendra Modi in the US, Amazon CEO Andy Jassy said the company has already invested USD 11 billion in India till date.

“I had a very good and productive conversation with Prime Minister Modi. I think we share a number of goals. Amazon is one of the biggest investors in India,” Jassy was quoted as saying by the Indian news agency on Friday.

“We have invested USD 11 billion till date and intend to invest another USD 15 billion, which will bring the total to USD 26 billion. So we are very much looking forward to future of partnering,” he added.

External Affairs Ministry spokesperson Arindam Bagchi said the prime minister held a productive meeting with the president and CEO of Amazon.  “Discussions focused on the area of e-commerce and the potential of further collaboration with @amazon in the logistics sector in India,” Bagchi tweeted.

Modi welcomed Amazon’s initiative of promoting digitisation of MSMEs in India.

Earlier on Friday, the Prime Minister met with US and Indian technology CEOs in Washington on the final day of a state visit.

US President Joe Biden and Modi gathered with CEOs including Apple’s Tim Cook, Sundar Pichai and Microsoft’s Satya Nadella.

The CEOs discussed the enormous opportunities and ways to deepen institutional cooperation in cutting-edge tech and R&D between the two countries.

The Prime Minister underlined the immense potential of harnessing India-US tech cooperation for socio-economic growth.

PM Modi also attended a lunch at the State Department with Vice President Kamala Harris, the first Asian American to hold the No. 2 position in the White House, and State Secretary Antony Blinken.

(With agency inputs)

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)