Amazon to invest additional $3 billion in India

The announcement regarding the additional investment was made at the US-India Business Council’s (USIBC) Leadership Summit in Washington

by exchange4media Staff
Published - Jun 11, 2016 3:09 PM Updated: Jun 11, 2016 3:09 PM
Amazon to invest additional $3 billion in India

Amazon Chief Executive Jeff Bezos has pledged that the online retail giant will invest an additional $3 billion in India, boosting its total investment in the country to over $5 billion.

Bezos announced the investment at the annual US India Business Council (USIBC) in Washington attended by Indian Prime Minister Narendra Modi.

“We have already created some 45,000 jobs in India and continue to see huge potential in the Indian economy,” said Jeff Bezos, Founder and CEO of Amazon.com.

“Our Amazon.in team is surpassing even our most ambitious planned milestones, and I’m pleased to announce today that we’ll invest an additional US $3 billion on top of the US $2 billion that we announced in 2014, bringing our total investment in India to over US $5 billion.”

Prime Minister Narendra Modi, who was on a five-nation tour, addressed the USIBC’s 41st Annual Leadership Summit. Modi met CEOs from both the United States and India to get an update on the progress in the bilateral commercial relations at the CEO Roundtable.

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