Amazon and Google announced substantial investments in India on Saturday, following meetings with Indian Prime Minister Narendra Modi during his visit to the United States.

US President Joe Biden hosted India's Prime Minister Narendra Modi at the White House on Thursday as part of the former's official state visit to the US.

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Amazon Chief Executive Andy Jassy called their meeting "productive" on social media, detailing that they discussed "Amazon’s commitment to invest $26B in India by 2030; working together we will support startups, create jobs, enable exports, and empower individuals and small businesses to compete globally."

The investment of $26 billion includes previously announced intentions to invest $12 billion in cloud infrastructure in India by 2030. The investment would sustain an average of 131,700 Indian business labor positions every year.

A worldwide financial technology operations center in Gujarat will be established by both Google and Amazon. 

According to Indian media, Google CEO Sundar Pichai stated that the company was excited to be opening the global fintech operation center in GIFT City, Gujarat. The CEO explained that it would "cement India's fintech leadership, thanks to UPI and Aadhaar. And we are going to build on that foundation, and take it globally." 

According to the Indian Prime Minister's office, during the meeting, Modi discussed with entrepreneurs hot topics like artificial intelligence (AI), fintech, cybersecurity goods and services, and mobile device manufacturing in India.

Modi was on a visit to the United States from June 20-23, including stops in New York City and Washington, where he met with President Joe Biden and other top officials. 

On Wednesday, Modi met with US billionaire Elon Musk, when he revealed that his electric car-making company Tesla will land in India "as soon as humanly possible" and make "significant investments" in the country's economy.