New Delhi: Indian Prime Minister Narendra Modi this week touted a flurry of investment by global companies as he seeks to create more jobs ahead of general elections due in the first half of next year.
The cloud computing division of Amazon.com Inc on Thursday became the latest company to announce an investment in the world’s most populous country.
The following are some recent investment announcements, mostly by US companies.
Amazon
Amazon Web Services said it plans to invest $13 billion in India by 2030 to build out its cloud infrastructure and create thousands of jobs.
Apple
The US tech giant last month launched its first company-owned store in Mumbai, followed by another in New Delhi. It is seeking to make India a major manufacturing base and has started manufacturing a range of products there through contracted 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”.
Foxconn
The Taiwanese contract manufacturer plans to invest $500 million to set up a manufacturing plant in the south Indian state of Telangana and about $968 million in neighboring Karnataka. Indian officials have stated that the investment is expected to create over 70,000 jobs.
The Apple supplier is also planning to set up a factory in India to make AirPods, Apple’s wireless earphones.
cisco systems
The US networking equipment maker will start 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.
walmart
The retail giant’s CEO met Modi this month and reiterated that the company plans to export $10 billion from India by 2027.
(Reporting by Sakshi Dayal; Editing by Robert Birsel)
Disclaimer: This report is generated automatically from Reuters news service. ThePrint is not responsible for its content.