New Delhi [India], June 25 (ANI): Welcoming Amazon's record USD 48 billion investment, Prime Minister Narendra Modi stated that it showed a growing interest across the world to invest in India.

The statement followed a high-level meeting in New Delhi between Prime Minister Modi and Amazon Chief Executive Officer Andy Jassy, where the technology giant announced it will allocate 48 billion dollars in capital to India between 2026 and 2030.

'A great meeting with Mr. Andy Jassy. I welcome Amazon's record $48 billion investment in India. This will create new opportunities for our youth. At the same time, it shows the growing interest across the world to invest in India,' the Prime Minister posted on X.

The PM's post was in reply to Amazon CEO Andy Jassy's post which confirmed that Amazon would invest 48 billion USD in India in the coming five years.

'Really enjoyed my meeting with Prime Minister @narendramodi about what's ahead for Amazon in India. We've been serving customers, sellers, developers, startups, and enterprises in India for more than a decade and just getting started. Shared that we're investing $48 billion over the coming five years, including $21+ billion in AI and cloud infrastructure. By 2030, we plan to support 3.8 million jobs, enable $80 billion in ecomm exports, and bring benefits of AI to 15 million small businesses and 4 million government school students. Excited about what's ahead. Still early days for what we can build.'

'We've invested USD 40 billion in India since the year 2010. And then at the end of last year, we announced that we were going to invest another USD 35 billion in India between 2026 and 2030. And we just announced today that we're going to increase that amount from 35 billion to an incremental USD 48 billion of investment between 2026 and 2030,' Jassy added.

The primary driver for the increased financial commitment stems from expanding demands within the digital economy, prompting the company to scale up its resource allocation from an initial USD 35 billion targeted for the late-decade window.

A specific segment of this capital deployment targets advanced digital systems. The updated projection introduces a specific USD 13 billion addition to accelerate cloud computing and artificial intelligence development, adjusting the total planned investment for cloud infrastructure to more than USD 21 billion over the five-year period. This capital deployment will expand Amazon Web Services data center capacities in Mumbai and Hyderabad.

'A fair amount of our investment is in our marketplace business, but the incremental USD 13 billion we announced today is focused on cloud and AI,' Jassy said. 'India is becoming such a significant cloud and AI hub around the world, and we have so much demand here that we're continuing to invest in the country on the cloud side and the AI side as well.'

The investment trajectory also outlines long-term employment and economic metrics. The company intends to scale its employment ecosystem from the 2.8 million direct and indirect jobs supported in 2024 to approximately 3.8 million jobs by the conclusion of 2030.

Additional targets established through 2030 involve enabling USD 80 billion in cumulative e-commerce exports, extending AI benefits to 15 million small businesses, and introducing AI education to 4 million government school students.

'Prime Minister's vision over the last 12 years is just remarkable. And you can see it in the development of the country and how important the country is in almost every aspect around the world,' Jassy said. 'And when I have the good fortune to spend time with him, he has so many ideas for how to continue to make the country better on every dimension. It's very noteworthy, it's very remarkable, and it's impressive.'

Amazon's cumulative financial commitments in India between 2010 and 2030 will stand at more than USD 88 billion, balanced across e-commerce networks, quick commerce operations, and technology infrastructure. (ANI)