E-commerce giant Amazon said Wednesday it would nearly double its investment in India, seeking to expand exports, create jobs and invest in artificial intelligence in the world's most populous nation.
Several global corporations have announced large investments this year in the South Asian nation, the fifth-largest economy, and which is projected to have more than 900 million internet users by year's end.
"Amazon has announced plans to invest more than $35 billion across all its businesses in India through 2030, building on nearly $40 billion invested in the country so far," the US online giant said in a statement.
"This investment will focus on business expansion as well as three strategic pillars: AI-driven digitisation, export growth, and job creation."
Amazon said it had invested in both building physical and digital infrastructure, including transportation networks, data centres, digital payments infrastructure and technology development.
"The investment will create one million jobs, boost cumulative exports to $80 billion, and deliver AI benefits to 15 million small businesses", the company statement added, in an announcement made in New Delhi.
"We're excited to continue being a catalyst for India's growth," top Amazon official Amit Agarwal said.
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