Global E-commerce giant Amazon and internet search engine Google announced plans to invest USD 15 billion and USD 10 billion more respectively in India, their CEOs stated after meeting Indian Prime Minister Narendra Modi during his recent US visit.
Amazon will take its total investment in the country to USD 26 billion, a top official of the company has said. After meeting Prime Minister Narendra Modi in the US, Amazon CEO Andy Jassy said the company has already invested USD 11 billion in India till date.
Google will be investing in India's digitisation fund, its CEO Sundar Pichai told PM Modi, a step that will recognise India's leadership on fintech and will support small and large businesses in India, the US and around the world.
"I had a very good and productive conversation with Prime Minister Modi. I think we share a number of goals. Amazon is one of the biggest investors in India. We have invested USD 11 billion till date and intend to invest another USD 15 billion, which will bring the total to USD 26 billion. So we are very much looking forward to future of partnering," Jassy said.
Pichai met Modi as well and also announced the opening of Google's global fintech operation centre in the Gujarat International Finance Tec-City (GIFT) in Gandhinagar.
"It was an honour to meet Prime Minister Modi during the historic visit to the US. We shared with the Prime Minister that Google is investing USD 10 billion in India's digitisation fund," Pichai said.
India's External Affairs Ministry in a tweet said the prime minister held a productive meeting with the president and CEO of Amazon.
"Discussions focused on the area of e-commerce and the potential of further collaboration with @amazon in the logistics sector in India," it said.
Modi welcomed Amazon's initiative of promoting digitisation of MSMEs in India. (with PTI inputs)