Amazon to increase investments in India to $5 billionStaff writer ▼ | June 8, 2016
Amazon CEO Jeff Bezos said the company would invest an additional $3 billion in India, boosting its committed investment in the country to over $5 billion.
Retail in Asia This is only the beginning
"I can assure you it’s only the beginning and as we say in Amazon, it’s only day one," Bezos said, adding that the investments would help start-ups in India and accelerate the country's role as a hub for innovation and digital entrepreneurship.
He said Amazon would open a Web Services Cloud Region in India this year and the country would soon become home to the firm's largest software engineering and development center outside of the United States, located in Hyderabad.
Bezos said Amazon had so far built 21 fulfillment centers with more than 5 mln cubic feet of storage space. He said its link-up with India Post enabled it to reach all serviceable postal codes in the country.
He said the Hyderabad center would create jobs and career development opportunities for thousands of people and a "significant" number of jobs would be created over time because of the deployment of Amazon Cloud Services. ■