Amazon to invest $12.7 billion in India cloud services by 2030

Amazon.com Inc. plans to invest $12.7 billion in cloud infrastructure in India by 2030, joining other global tech giants in betting on growth in the South Asian nation’s digital econmy.

The US company’s cloud business, which has data centers in the Mumbai and Hyderabad regions, already invested $3.7 billion in India from 2016 to 2022, it said in a statement Thursday. The fresh outlay will include spending in construction, server computers and telecommunications infrastructure.

Global tech companies from Apple Inc. to Netflix Inc. are expanding in the world’s most populous country with services such as video streaming and online retailing, while Wall Street banks and global insurers have long operated tech centers in the country. Such businesses are accelerating the growth of India’s cloud-services market, which researcher IDC sees growing at an average rate of 23% a year to reach $13 billion in 2026.

To fuel its web services business, Amazon said it has trained more than 4 million people in India with cloud skills since 2017 and invested in six utility-scale renewable energy projects.