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(Reuters) -Amazon's cloud services provider, Amazon Web Services, will invest about $8.2 billion in India's western state of Maharashtra over the next few years, the information technology ministry said on Monday.
India has been stepping up its efforts to pilot local cloud data storage. According to a report by International Data Corporation, the country's cloud services market — estimated at $8.3 billion in 2023 — is expected to grow to $24.2 billion by 2028.
"Along with the investment, there will be significant growth in employment," Minister of Electronics and Information Technology Ashwini Vaishnaw said, adding that the investments will roll out by 2029-2030.
Amazon will deploy its own graphics processing units, latest technologies and cloud management services in India, Vaishnaw said.
The e-commerce giant runs two data centers in the Indian subcontinent — one in Mumbai, launched in 2016, and another in Hyderabad, which started in 2022.
Last year, Amazon said it would invest an additional $2 billion in Asia's third-largest economy to ramp up e-commerce business.
(Reporting by Munsif Vengattil and Manvi Pant; Editing by Shilpi Majumdar)