Amazon says will invest $35 billion in India by 2030

E-commerce giant Amazon said Wednesday it would nearly double its investment in India, seeking to expand exports, create jobs and invest in artificial intelligence in the world's most populous nation.

Several global corporations, including technology giant Microsoft, have announced large investments this year in the South Asian nation, the world's fifth-largest economy, and which is projected to have more than 900 million internet users by year's end.

"Amazon has announced plans to invest more than $35 billion across all its businesses in India through 2030, building on nearly $40 billion invested in the country so far," the US online giant said in a statement.

"This investment will focus on business expansion as well as three strategic pillars: AI-driven digitisation, export growth, and job creation."

The announcement comes a day after Microsoft said it will invest $17.5 billion to help build India's artificial intelligence infrastructure, with CEO Satya Nadella calling it "our largest investment ever in Asia".

Amazon said it had invested in both building physical and digital infrastructure, including transportation networks, data centres, digital payments infrastructure and technology development.

"The investment will create one million jobs, boost cumulative exports to $80 billion, and deliver AI benefits to 15 million small businesses", the e-commerce company statement added, in an announcement made in New Delhi.

Amazon said it will build on existing investments that have "digitised 12 million small businesses and enabled $20 billion in exports", it added.

"We're excited to continue being a catalyst for India's growth," top Amazon official Amit Agarwal said.