Dec 10 (Reuters) – Amazon plans to invest more than $35 billion in India by 2030 to expand its operations ​by boosting artificial intelligence capabilities and increasing exports, the ‌U.S. e-commerce giant said on Wednesday, as global tech firms deepen their presence ‌in Asia’s third-largest economy.

Major U.S. tech firms have poured billions of dollars into India this year, underscoring the country’s emergence as a strategic hub for cloud, AI and deep‑tech growth.

Microsoft pledged an investment ⁠of $17.5 billion in India for ‌AI and cloud infrastructure by 2030 on Tuesday, marking its largest investment in Asia, while Google ‍has committed $15 billion over the next five years to build AI data centers.

Amazon’s investments are “strategically aligned with India’s national priorities and will focus on ​expanding AI capabilities, enhancing logistics infrastructure, supporting small business growth ‌and creating jobs,” the company said in a statement.

Amazon has ramped up spending in the country to compete with Walmart-backed Flipkart and the retail arm of billionaire Mukesh Ambani’s Reliance Industries.

The e-commerce giant, which has invested $40 billion in India since 2010, announced ⁠a $26 billion investment in 2023.

Amazon said ​it plans to create 1 million ​additional job opportunities in India by 2030. The firm also said it has helped generate more than $20 billion ‍in cumulative exports ⁠for sellers in India in the last ten years, and plans to increase that to $80 billion by 2030.

India, the ⁠world’s most populous nation, is a critical market for Amazon, due to its ‌rapidly expanding internet user base.

(Reporting by Kashish Tandon in ‌Bengaluru; Editing by Mrigank Dhaniwala)