02 Jun. 16, BENGALURU: Amazon invests additional $200 million (Rs. 1,350 crore approx.) in its India unit this year, seeking to accelerate its growth, similar to what it scaled-up since last one and a half years.
The company was surpassed by Alibaba group in China, In October 2015, Amazon said it expected India to overtake Japan, Germany and the United Kingdom to become its second-largest overseas market in coming years.
According to sources and reports by ET, Amazon chief executive Jeff Bezos said, “We have done much more local market customisation in India than we did in China. I think some of the investors in India in the early days thought that India might be a replay of China and they have found out that it hasn’t gone that way.”
Amazon opened on the Internet marketing in July 1994. Headquartered at Seattle, Washington, it was founded by Jeff Bezos. Amazon launched its operations in India in the year 2013. Through its website amazon.in, a marketplace which is operated by Amazon Seller Services Private Ltd. Amazon will complete three years in India, this week.