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Amazon devoted to its investment commitment in India

E-commerce major Amazon invests more funds of Rs 1680 crore to scale up the operations of its business Amazon Seller Service in India.
BY BEx Bureau
BusinessEx
Jul 06, 2017

The subsidiary Amazon Seller Services raise the amount last month, as per regulatory documents filed with the ministry of corporate affairs, Amazon Seller Services Pvt. Ltd.

A commitment was made in 2014 by Jeff Bezos, Amazon CEO to invest $2 billion in India which is already completed as Amazon India has raised $2.31 billion. But the company further claims that an additional fund of $3 billion will also invest in its Indian operation in the time to come.

The major focus of Amazon investment is to build up its own massive warehouses, create a large logistics network, focus on marketing, product offering, and myriad product range.

In July 2014, total capital of Amazon India was Rs 1,500 crore but Amazon was more focused to scale up its operation to overcome its rival Flipkart. Then company aggressively invested in its Indian e-commerce business but Flipkart also matches up to the investment. As Flipkart has already raised more than $4.3 billion since 2007 and recently got funding of $1.4 billion from Tencent Holdings, eBay and Microsoft. Flipkart is also in discussions to buy its homegrown rival Snapdeal.

We remain committed to our India business with a long-term perspective to make e-commerce a habit for Indian customers and to invest in the necessary technology and infrastructure to grow the entire ecosystem, said a spokesperson of Amazon.

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