Amazon (AMZN) has allocated $3 billion to boost its instant delivery, or quick commerce, business in India by 2030, Reuters reported Thursday, citing two sources with direct knowledge of the plans.

The sources told Reuters that Amazon aims to spend $1 billion in the sector by 2027 and another $2 billion by 2030, covering spending on new neighborhood warehouses, along with artificial intelligence tools and inventory management software, the report said.

Amazon did not immediately respond to MT Newswires' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)