This year, many American companies have invested in India. American companies have invested around $ 17 billion, or about 1.27 lakh crore rupees in India from January to July 15′ 2020.
In January, the e-commerce giant, Amazon announced an investment of $ 1 billion, or about Rs. 7,400 crore. At the end of April, Facebook announced an investment of six billion dollars or about 44 thousand crore rupees in India. On July 15, Google announced an investment of $ 10 billion, or about 75 thousand crore rupees.
It may be noted that there has been increasing tension between India and China in the recent past. US President Donald Trump’s administration has also expressed distrust of Chinese companies. Therefore, India has emerged as the first choice for American tech companies to meet the challenges facing China and Hong Kong.
India is the digital economy
Not only this, India also has a digital economy. There are around 700 million Internet subscribers in India, about half of which have come online. This is a major advantage. In this context, Jay Gulis, head of tech policy at the US-India Business Council, says that tech companies are confident that India will remain a good market for a long time. Also the rules are going to be easy in India.
The scenario is that the silicon valley companies have started to leave China. In addition, new security laws imposed by China in Hong Kong are also a big issue. In this very case companies like Facebook, Google and Twitter say that they will also stop sharing data with the Hong Kong government.
In the last few days, several big companies have also invested in the digital arm Jio platforms of Reliance Industries Ltd (RIL), India’s richest man Mukesh Ambani. This includes Facebook’s total investment and nearly half of Google’s investment. Since April, Jio Platforms has raised an investment of $ 20 billion, or about Rs 1.5 lakh crore.