Indian Economy News

Amazon to invest US$ 12.7 billion in India’s cloud services by 2030 Inc., like other global tech companies, is placing a bet on the expansion of the digital economy in India by committing US$ 12.7 billion to its cloud infrastructure by 2030. According to a statement released, the US company's cloud division, which operates data centres in Mumbai and Hyderabad, has already invested US$ 3.7 billion in India between 2016-2022. The fresh outlay will include spending in construction, server computers, and telecommunications infrastructure.

Global tech businesses from Apple Inc. to Netflix Inc. are expanding in India with services like video streaming and online retailing. These companies are helping the Indian cloud services market, which according to researcher IDC, is expected to grow at an average annual pace of 23% and reach US$ 13 billion in 2026.

Amazon has informed that it has been training more than 4 million people in India with cloud skills since 2017 and has already invested in six utility-scale renewable energy projects, in order to fuel its web services business.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.