Facebook, Amazon and Google describe India as ‘largest’ investment area
The tech giants have planned large investments in the country amid the COVID-19 pandemic
Brian T. Olsavsky, Amazon’s Senior Vice-President and Chief Financial Officer, while talking about the etailer’s new investment areas mentioned that ‘India is the biggest one’, said a report in Business Insider. “
“Obviously, India is the biggest one, but also to a lesser extent, the Middle East, Brazil, Turkey and Australia are recent additions. So, there’s always an element of expansion going on there,” he said, according to the report. David Fildes, director of investor relations, said they are focused on digitalizing the Indian sellers - micro, small and medium-size businesses
Facebook’s CEO Mark Zuckerberg during the earnings call highlighted the social media giant’s $5.7 billion investment in Jio.
“A lot of people use WhatsApp, especially in India, there’s a huge opportunity to enable small businesses and individuals in India to buy and sell things through WhatsApp. We want to enable that,” the Business Insider quoted Zuckerberg. “A big part of the partnership that we have with Jio will be to wire up and get thousands of small businesses across India on-boarded on WhatsApp, to do commerce there.”
And Google CEO Sundar Pichai mentioned the $10 billion Google for India Digitalization Fund for Indian internet users. He said they will invest $10 billion over the next 5 to 7 years to accelerate and participate in India’s burgeoning digital economy.
Read the full report in the Business Insider