Amazon plans to invest more than $35 billion ‍in India by ‍2030 to expand operations and strengthen its artificial ​intelligence capabilities, the U.S. e-commerce giant said on Wednesday, becoming ⁠the latest global tech firm to deepen its presence in the ⁠world's most populous country.

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

Amazon said the investment is aimed at deepening its presence ​in Asia's third-largest economy, where it has ramped up spending to compete with Walmart-backed Flipkart and the retail arm of billionaire Mukesh Ambani's Reliance Industries .

The U.S. e-commerce giant, which has invested $40 billion in its Indian business since 2010, had announced a $26 billion investment in 2023 to deepen its presence in the country.

Amazon says 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. It aims ‌to create ⁠1 million additional job opportunities in the country by 2030.

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