Four U.S. Companies Make Big Moves in India
During Prime Minister Modi’s recent visit to the U.S. to address the joint meeting of members of Congress, several U.S. businesses announced investments into the Indian market, reports Huffington Post.
Star India, a subsidiary of 21st Century Fox, announced it will invest an additional $5 billion in the country over the next three years. “We see huge potential in the Indian market and have been one of the largest foreign investors in India and the largest in the media and entertainment sector,” said Uday Shankar, chairman and CEO of Star India.
Amazon announced an additional $3 billion in India, taking its total investment commitment to $5 billion. “Our Amazon India team is surpassing even our most ambitious planned milestones,” Jeff Bezos, Amazon CEO and Founder, said in a statement. The company plans to launch a “web services Cloud Region” in India. Its development center in Hyderabad will become its largest software engineering and development facility outside of the U.S.
California-based SunLink said it will partner with Indian companies to deploy up to 1.4 gigawatts of solar power over the next five years.
Westinghouse Electric Co., and Nuclear Power Corporation of India have agreed to start engineering and site design work for six nuclear power plant reactors in India, and conclude contractual arrangements by June 2017, the White House noted. India and the U.S. Export-Import Bank are expected to jointly finance the project.