Amazon plans to invest $12.7 billion by 2030 in cloud computing services in India.

In a bet on the expansion of the digital economy in the South Asian country, Amazon aims to invest $12.7 billion in cloud infrastructure in India by 2030.

According to a statement released on Thursday, the US company's cloud division, which has data centrs in the Mumbai and Hyderabad areas, has already committed $3.7 billion to India between 2016 and 2022.

The new expenditure will include costs for building, server computers, and telecommunications equipment.

While Wall Street banks and international insurers have long had IT centres in the nation, international tech businesses from Apple to Netflix are growing there with services like video streaming and online shopping.

These companies are helping the Indian cloud services industry, which according to researcher IDC, is expected to expand at an average annual pace of 23% and reach $13 billion in 2026.

Amazon said that since 2017, it has educated more than 4 million individuals in India on cloud-related skills and invested in six utility-scale renewable energy projects to support its web services business.

(Sources: bloomberg.com)