Amazon Cloud Unit to Invest $12.7 Billion in India by 2030

$Amazon(AMZN.US)$ is expanding its operations in India, joining the list of tech companies betting big on one of the world's fastest-growing economies.
The company's cloud computing segment said Thursday it will invest 1.06 trillion rupees ($12.7 billion) in India before the end of the decade. Amazon estimates its latest investment will contribute $23.3 billion to India's GDP by 2030 and support over 131,000 full-time jobs per year.

The move by Amazon is the latest attempt by a U.S. tech company to tap into one of the world’s fastest-growing economies.
$Apple(AAPL.US)$ CEO Tim Cook assured Indian Prime Minister Narendra Modi last month of Apple's commitment to investing in the country, where it recently opened its first physical stores. And Foxconn, one of Apple's biggest suppliers, will spend $500 million on a factory in the Indian state of Telangana, state officials said Monday.
India overtook China last month as the world’s most populous country and is forecast to be the world's third-largest economy by 2027. India's cloud services market is expected to expand at a compound annual growth rate of 24% to reach $13 billion by 2026.