Given its status as one of the fastest, if not the fastest, digital commerce hubs on the planet, it is not too entirely surprising that Amazon is serious about getting a foot in the door in India. Jeff Bezos has announced that Amazon will plow another $3 billion in investment into India, bringing the eCommerce giant’s total investment to $5 billion.
India, Bezos noted in the presence of Indian PM Narendra Modi, is Amazon’s fastest growing region.
“I can assure you it’s only the beginning and as we say in Amazon, it’s only Day 1,” Bezos said.
He also noted that Amazon’s investments would kick off a positive cycle in the nation, boosting Indian startups and hastening the pace of growth in India’s rapidly expanding tech center.
Coming expansions include AWS opening a Cloud Region in India this year, as well as the opening of a software engineering and development center that will be the firm’s largest outside the U.S. Bezos added that Amazon has already built 21 fulfillment centers and 5 million cubic feet of storage in the nation, which means it can now access all serviceable postal codes in nation.
Jeff Bezos is at present the world’s 4th richest man (following Carlos Slim, Bill Gates and Warren Buffet). His comments followed those of third-richest man Warren Buffet, who praised Bezos for building a small firm into an international powerhouse.