Jun 27, 2017
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PM Modi invites US cos to invest in India, Amazon CEO says will ‘keep investing’

Jun 27, 2017

After Prime Minister Narendra Modi’s appeal to American CEOs to invest in India, global online retail giant Amazon has said that it will continue to invest in India. India’s PM Modi had met and interacted with 20 top American CEOs that included Bezos, Apple CEO Tim Cook, Google’s Sunder Pichai among others at a round table meeting in Washington DC and urged them to invest in the country.

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“The Union Government in India is working on principles such as Minimum Government, Maximum Governance and the recent reforms initiated indicates India's quest for global benchmarks,” Modi told the CEOs according to a statement issued by the Prime Minister’s Office.

“India's growth presents a win-win partnership for the country and the US, and American companies have a great opportunity to contribute to that”, Modi added urging the CEOs to invest in India.

After the meeting with Prime Minister Narendra Modi, Jeff Bezos tweeted: “Terrific meeting with @narendramodi. Always impressed, energized by optimism and invention in India. Excited to keep investing and growing.”

Amazon India had previously committed investments to the tune of USD 5 billion in India as it looks to displace Flipkart from the numero uno position in the country.

The company is slowly shifting its focus from the metropolitan cities to tier II and III cities in India for its growth where there is a huge capital requirement to set up infrastructure and technology.
Amazon Senior Vice President and Country Manager (India) Amit Agarwal had earlier said that expanding infrastructure and technology to better consumer and seller experience was the need of the hour and the company will invest heavily in the same.

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