Amazon’s cloud computing division will double its previous investments in India to 1.06 trillion rupees ($13 billion) by 2023 to meet the rising demand for such services in one of Asia’s fastest-growing nations.
According to a statement from Amazon Web Services (AWS), the most recent investment will be utilized to develop its cloud infrastructure in India and will sustain approximately 100,000 full-time jobs annually.
This is in addition to its $6.5 billion investment in India’s e-commerce, where it has grown quickly over the years despite being constrained to operating only a marketplace by stringent regulations.
This adds up to a projected $16.4 billion in investment in India by the year 2030.
The corporation already has two data centers on the Indian subcontinent: one in Mumbai, which began operations in 2016, and another one in Hyderabad, which began operations in 2022.
More than 200 services, including storage, networking, and artificial intelligence, are available on the cloud platform.
In recent years, a number of multinational corporations, notably Microsoft and Google, have increased their cloud investments in India in response to New Delhi’s drive for greater regulation of Big Tech companies by encouraging them to store data locally.
To diversify its global supply chain, Cisco Systems said earlier this month that it will begin manufacturing in India. Foxconn, meanwhile, announced plans to invest $500 million to build factories in Telangana.
The decision by Amazon comes as India intensifies its efforts to lure more significant investments into the digital sector in order to meet the rising demand from businesses and the government for data storage and related services.
According to market research firm IDC, the market for public cloud services in India is anticipated to reach $13 billion by 2026, growing at a compound annual growth rate of 23.1% from 2021-26.
Read more on Tech Gist Africa:
Tim Cook has launched the very first Apple store in India
Amazon has surpassed Apple to become the most valuable brand in the world
The Pentagon has awarded a $9 billion cloud contract to Google, Oracle, Amazon, and Microsoft