20 December 2016, India:
Jeff Bezos-owned Amazon.com has invested over Rs. 2,000 crore in its Indian arm- Amazon India. So this makes Amazon’s total investments in India in the past 12 months to Rs 7,000 crore!
Amazon India spokesperson told ET, “We will invest what it takes to become the customers’ preferred choice in India, and are encouraged that we are India’s largest and fastest-growing e-commerce marketplace. In an industry reportedly flat or negative, Amazon India has continued to show remarkable growth of over 100 percent this year.”
“In an industry reportedly flat or negative, Amazon India has continued to show remarkable growth of over 100% this year,” the spokeswoman added.
While Flipkart has dominated the Indian marketplace, it is lacking to raise funds, so Amazon just widened the gap of funds. This would play a vital role while competing with Flipkart. Amazon is estimated to have lost Rs. 1,000 crore during the October’s mega sale. (Source- ET / Image- AP)