American e-commerce giant’s founder and CEO Jeff Bezos said on Wednesday, 8th June 2016-
“Amazon will invest an additional $3 billion in its India operations to take its investment in the country to over $5 billion.”
Mr Bezos said this at an event in Washington attended by Prime Minister Narendra Modi at the annual gala of US India Business Council (USIBC).
“We have already created some 45,000 jobs in India and continue to see huge potential in the Indian economy. our Amazon.in team is surpassing even our most ambitious planned milestones.”
Star India, a subsidiary of 21st Century Fox, also said it will invest an additional $5 billion over the next three years.
“We see huge potential in the Indian market and have been one of the largest foreign investors in India and the largest in the media and entertainment sector.”
Uday Shankar, Chairman and CEO of Star India
USIBC chairman John Chambers announced that in less than two years, about 20 per cent of USIBC member companies have already invested $28 billion India.
“Over the next 2-3 years, we see this pace accelerating, again with about 20 per cent of our member companies reporting, indicating that USIBC members are on track to invest an additional $45 billion, which is a conservative estimate”.
“Given Prime Minister Modi’s track record towards implementing ‘Digital India’ and key economic reforms, we are optimistic that this number will be dramatically exceeded, perhaps even doubled,” Chambers added.”
“Today we are witnessing a new phase in India’s growth story driven by the vision of Prime Minister Modi”.