Amazon Raises Investment in India to $26 Billion by 2030

FILE PHOTO: A man walks past a logo of Amazon Prime Video during a launch event in Mumbai, India, April 28, 2022. REUTERS/Francis Mascarenhas/File PhotoREUTERS
FILE PHOTO: A man walks past a logo of Amazon Prime Video during a launch event in Mumbai, India, April 28, 2022. REUTERS/Francis Mascarenhas/File PhotoREUTERS
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Amazon Raises Investment in India to $26 Billion by 2030

FILE PHOTO: A man walks past a logo of Amazon Prime Video during a launch event in Mumbai, India, April 28, 2022. REUTERS/Francis Mascarenhas/File PhotoREUTERS
FILE PHOTO: A man walks past a logo of Amazon Prime Video during a launch event in Mumbai, India, April 28, 2022. REUTERS/Francis Mascarenhas/File PhotoREUTERS

Amazon.com Inc said on Friday it will take its investments in India to $26 billion by 2030, adding $6.5 billion in new planned investments in an announcement made after CEO Andy Jassy met Prime Minister Narendra Modi in the United States.

Though Jassy gave no breakdown, the announcement follows Amazon's cloud computing unit Amazon Web Services (AWS) saying last month it will invest 1.06 trillion rupees ($12.9 billion) in the country by the end of 2030.

Earlier, Amazon had announced a $6.5 billion investment plan, largely to boost its e-commerce business where it competes with Walmart's Flipkart and billionaire Mukesh Ambani's Reliance Retail.

The new investment amount committed now comes to around an additional $6.5 billion, Reuters reported.

The e-commerce giant's announced investment during Modi's trip adds to other companies, including US semiconductor toolmaker Applied Materials and memory chip firm Micron Technology, which have made commitments during the Indian prime minister's state visit.

Modi and Jassy spoke about supporting Indian startups, creating jobs, enabling exports, digitisation, and empowering individuals and small businesses to compete globally, an Amazon blog post said.

Separately, Google will open a global fintech operation center in GIFT City in India's western state of Gujarat, with teams working on operations supporting its payment service GPay, and other product operations at Google, the company said in a statement to Reuters.

"We shared Google is investing $10 billion in the India digitisation fund, and we are continuing to invest through that," CEO Sundar Pichai told reporters in a video shared on Twitter by Reuters partner ANI company.

On the final day of his Washington trip, Modi met with US and Indian technology executives, including Apple's Tim Cook, Google's Pichai and Microsoft's Satya Nadella and appealed to global companies to "Make in India".



Huawei’s Tri-Foldable Phone Hits Global Markets in a Show of Defiance Amid US Curbs 

Visitors stand in front of a giant billboard displaying the Huawei's first tri-foldable Mate XT smartphone during an event for its global launch in Kuala Lumpur on February 18, 2025. (AFP)
Visitors stand in front of a giant billboard displaying the Huawei's first tri-foldable Mate XT smartphone during an event for its global launch in Kuala Lumpur on February 18, 2025. (AFP)
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Huawei’s Tri-Foldable Phone Hits Global Markets in a Show of Defiance Amid US Curbs 

Visitors stand in front of a giant billboard displaying the Huawei's first tri-foldable Mate XT smartphone during an event for its global launch in Kuala Lumpur on February 18, 2025. (AFP)
Visitors stand in front of a giant billboard displaying the Huawei's first tri-foldable Mate XT smartphone during an event for its global launch in Kuala Lumpur on February 18, 2025. (AFP)

Huawei on Tuesday held a global launch for the industry’s first tri-foldable phone, which analysts said marked a symbolic victory for the Chinese tech giant amid US technology curbs. But challenges over pricing, longevity, supply and app constraints may limit its success.

Huawei said at a launch event in Kuala Lumpur that the Huawei Mate XT, first unveiled in China five months ago, will be priced at 3,499 euros ($3,662). Although dubbed a trifold, the phone has three mini-panels and folds only twice. The company says it's the thinnest foldable phone at 3.6 millimeters (0.14 inches), with a 10.2-inch screen similar to an Apple iPad.

“Right now, Huawei kind of stands alone as an innovator” with the trifold design, said Bryan Ma, vice president of device research with the market intelligence firm International Data Corporation.

Huawei reached the position despite “not getting access to chips, to Google services. All these things basically have been huge roadblocks in front of Huawei,” Ma said, adding that the “resurgence we're seeing from them over the past year has been quite a bit of a victory."

Huawei, China’s first global tech brand, is at the center of a US-China battle over trade and technology. Washington in 2019 severed Huawei’s access to US components and technology, including Google’s music and other smartphone services, making Huawei's phone less appealing to users. It has also barred global vendors from using US technology to produce components for Huawei.

American officials say Huawei is a security risk, which the company denies. China’s government has accused Washington of misusing security warnings to contain a rising competitor to US technology companies.

Huawei launched the Mate XT in China on Sept. 20 last year, the same day Apple launched its iPhone 16 series in global markets. But with its steep price tag, the Mate XT “is not a mainstream product that people are going to jump for,” Ma said.

At the Kuala Lumpur event, Huawei also unveiled its MatePad Pro tablet and Free Arc, its first open-ear earbuds with ear hooks and other wearable devices.

While Huawei’s cutting-edge devices showcase its technological prowess, its long-term success remains uncertain given ongoing challenges over global supply chain constraints, chip availability and limitations on the software ecosystem, said Ruby Lu, an analyst with the research firm TrendForce.

“System limitations, particularly the lack of Google Mobile Services, means its international market potential remains constrained,” Lu said.

IDC's Ma said Huawei dominated the foldable phone market in China with 49% market share last year. In the global market, it had 23% market share, trailing behind Samsung's 33% share in 2024, he said. IDC predicted that total foldable phone shipments worldwide could surge to 45.7 million units by 2028, from over 20 million last year.

While most major brands have entered the foldable segments, Lu said Apple has yet to release a competing product.

“Once Apple enters the market, it is expected to significantly influence and stimulate further growth in the foldable phone sector,” Lu added.