American entrepreneur Jeff Bezos on Tuesday said his company, Amazon, will invest another $3 billion (around Rs 20,000 crore) in India, reported Reuters. At an event attended by the Prime Minister Narendra Modi in the United States, the CEO of the e-commerce major said the company intends to take its investment beyond $5 billion (around Rs 33,372 crore) in the country, which it considers to be the fastest growing market for Amazon.

"I can assure you it’s only the beginning and as we say in Amazon, it’s only day one. The investments would help start-ups in India and accelerate the country's role as a hub for innovation and digital entrepreneurship," Bezos, who is also the world's fourth richest man, said. He shared with the audience his plans to set up a Web Services Cloud Region in India in 2016. The company has also identified Hyderabad as the centre for its next largest software engineering and development centre after the one in United States.