American Businesses Pledge $30 Billion in Investments in India
New Delhi, June 25, 2023: A delegation of American businesses, led by US Chamber of Commerce CEO Thomas J. Donohue, met with Prime Minister Narendra Modi on June 24, 2023, and pledged to invest $30 billion in India over the next five years.
The investment will be used to expand businesses' operations in India, create new jobs, and support the development of India's infrastructure. The businesses represented in the delegation include Amazon, Microsoft, General Electric, Boeing, and PepsiCo.
"India is a land of opportunity," Donohue said. "We are excited to invest in India and help the country grow its economy."
Prime Minister Modi welcomed the investment and said that it would help India to become a global economic powerhouse. "India is open for business," Modi said. "We welcome your investment and look forward to working with you to create a better future for our two countries."
The investment by American businesses is a major vote of confidence in India's economy and its potential for growth. It is also a sign of the strong relationship between India and the United States.
The investment will be spread across a number of sectors, including manufacturing, IT, and infrastructure. It is expected to create over 1 million new jobs in India.
The investment is also expected to boost economic growth in India. The Indian economy is expected to grow at an average rate of 7% per year over the next five years. The investment by American businesses will help to accelerate this growth.
Amazon's Investment in India
Amazon has pledged to invest an additional $15 billion in India over the next five years. This brings Amazon's total investment in India to $26 billion. The investment will be used to expand Amazon's cloud infrastructure, logistics network, and retail presence in India. It is expected to create over 100,000 new jobs in the country.
Here are some of the key areas where Amazon will invest in India:
Cloud infrastructure: Amazon will invest in expanding its cloud infrastructure in India, including data centers and edge computing facilities. This will help businesses in India to adopt cloud computing and benefit from the scalability, flexibility, and cost-effectiveness of the cloud.
Logistics network: Amazon will invest in expanding its logistics network in India, including warehouses, delivery centers, and transportation fleet. This will help Amazon to better serve its customers in India and meet the growing demand for e-commerce in the country.
Retail presence: Amazon will invest in expanding its retail presence in India, including physical stores and grocery delivery. This will help Amazon to reach more customers in India and offer them a wider range of products and services.
The investment by Amazon is a major vote of confidence in India's economy and its potential for growth. It is also a sign of Amazon's commitment to India, where it has been operating for over a decade. The investment is expected to create jobs, boost economic growth, and help India to become a global leader in the digital economy.
Conclusion
The investment by American businesses is a welcome development for India. It will help to create jobs, boost economic growth, and make India a global economic powerhouse. I urge all businesses in the United States to consider investing in India. Together, we can build a better future for both our countries.
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