New Delhi: Indian Prime Minister Narendra Modi this week trumpeted a flurry of investment by global companies as he tries to create more jobs ahead of a general election due in the first half of next year.
Amazon.com Inc’s cloud computing division on Thursday became the latest company to announce an investment in the world’s most populous country.
Following are some recent investment announcements, mostly by U.S. companies.
Amazon Web Services said it planned to invest $13 billion in India by 2030 to build its cloud infrastructure and create thousands of jobs.
The U.S. tech giant launched its first company-owned store in Mumbai last month and then another in New Delhi. It has been trying to make India a bigger manufacturing base and has started manufacturing several products there through contract electronics makers Foxconn, Wistron Corp and Pegatron Corp.
During a visit last month, CEO Tim Cook said Apple was “committed to growing and investing across the country”.
The Taiwanese contract manufacturer plans to invest $500 million to set up manufacturing plants in the south Indian state of Telangana and almost $968 million in neighbouring Karnataka. The investments are expected to create more than 70,000 jobs, Indian officials have said.
The Apple supplier also plans to build a factory in India to manufacture AirPods, Apple’s wireless earphones.
The U.S. networking equipment maker will begin manufacturing from India as it looks to diversify its global supply chain. It has set a target of $1 billion in production and exports from India over the next few years.
The retail giant’s CEO met Modi this month and reiterated that the company planned exports from India worth $10 billion a year by 2027.
(Reporting by Sakshi Dayal; Editing by Robert Birsel)
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