New Delhi, Dec. 10 -- Amazon has announced that it will be investing more than $35 billion across all its businesses in India through 2030. This investment builds on the $40 billion invested in the country so far. It will be focused on business expansion, AI-driven digitalisation, export growth, and job creation.

On the job creation front, Amazon said the plan is expected to generate an 1 million direct, indirect, induced, and seasonal jobs in India. Further, this investment will quadruple exports to $80 billion, and deliver AI benefits to 15 million small businesses. It may be noted that just a month back, Amazon laid off 14,000 employees or approximately 4% of its global workforce

Amazon said that the investments are 'strategically aligned with India's national priorities' and will focus on expanding AI capabilities, enhancing logistics infrastructure, supporting small business growth, and creating jobs.

The announcement was made at the Amazon Smbhav Summit in New Delhi. Quoting the Economic Impact Report by Keystone Strategy, Amazon said that its cumulative investments of nearly $40 billion, including compensation to employees and the development of infrastructure, have established the company as the largest foreign investor in India.

The news comes on the heels of other major investment announcements made this week. Microsoft, on Tuesday, made a $17.5-billion investment to build AI and cloud infrastructure in India, bolstering compute capacity and expanding AI skilling and enterprise adoption programs.

U.S. chipmaker Nvidia has joined the India Deep Tech Alliance, contributing to a global pool backing AI, semiconductor, robotics and space-tech innovators. Google itself recently teamed up with global venture firm Accel to hunt for India's "next AI breakouts." Under their collaboration, the companies are committing to invest up to $2 million per startup in early-stage AI ventures.

Additionally, Google on Wednesday expanded its commitment to India's startup ecosystem with the launch of the Google for Startups Hub at T-Hub in Hyderabad - its first such facility housed within a state-led innovation ecosystem. The initiative, built in partnership with the Government of Telangana, is positioned as a "springboard for AI-first startups and a catalyst for investment, mentorship, and global market access," the company said in a statement.

Published by HT Digital Content Services with permission from TechCircle.