Employees stand near an The Amazon Inc. logo is displayed above the reception counter at the company’s campus in Hyderabad, India, on Friday, Sept. 6, 2019.<\/p>\n
Bloomberg | Bloomberg | Getty Images<\/p>\n
Amazon on Wednesday committed to investing over $35 billion in India’s cloud and artificial intelligence space by 2030, as hyperscalers race to get a foothold in the market.\u00a0<\/p>\n
The commitment, unveiled at the Amazon<\/a> Smbhav Summit in New Delhi, builds on nearly $40 billion already invested in the country.\u00a0<\/p>\n In a press release<\/a>, Amazon said the new funds will target AI-driven digitization, export growth and job creation, aligning with India’s national priorities to build up its local AI environment.<\/p>\n By 2030, Amazon said the plan is expected to generate an additional 1 million direct, indirect, induced and seasonal jobs in India, quadruple exports to $80 billion and deliver AI benefits to 15 million small businesses.<\/p>\n The investment highlights Amazon’s bet on India’s booming digital economy, where it has been building fulfillment centers, data centers and payments infrastructure.\u00a0<\/p>\n It also comes soon after Microsoft<\/a> announced plans to invest $17.5 billion<\/a> in India’s AI infrastructure as Big Tech players accelerate their push into the market.\u00a0<\/p>\n “We are humbled to have been a part of India’s digital transformation journey over the past 15 years,” said Amit Agarwal, senior vice president for emerging markets at Amazon.\u00a0<\/p>\n “Looking ahead, we’re excited to continue being a catalyst for India’s growth, as we democratize access to AI for millions of Indians.”<\/p>\n","protected":false},"excerpt":{"rendered":"Employees stand near an The Amazon Inc. logo is displayed above the reception counter at the company’s campus…\n","protected":false},"author":2,"featured_media":340463,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,1540,181,507,5681,122,1536,74],"class_list":{"0":"post-340462","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-amazon-com-inc","10":"tag-artificial-intelligence","11":"tag-artificialintelligence","12":"tag-breaking-news-technology","13":"tag-business-news","14":"tag-microsoft-corp","15":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/340462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=340462"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/340462\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/340463"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=340462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=340462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=340462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}