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Amazon invests Rs 1,680 cr in India, crosses $2 bn in funding

Founder Jeff Bezos has highlighted the importance of the Indian market to its operations

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Amazon India

Press Trust of India  |  New Delhi 

Amazon
Amazon

Global giant Amazon has invested an additional Rs 1,680 crore in its India unit as it looks to further strengthen operations in the booming e-commerce market here.

The fresh infusion -- part of Amazon's $5 billion commitment to Indian market - will also provide more arsenal to the Indian entity that is locked in an intense battle for leadership with local rival, Flipkart.

Amazon Seller Services (Amazon India) received the funds last month, as per regulatory filings with the corporate affairs ministry.

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

In June last year, the US-based firm had said it will invest an additional $3 billion in India, topping up the company's earlier stated investment of $2 billion.

is estimated to have already received over $2 billion in funding.

Amazon India, which has recently completed four years of operations, has said it will continue to invest in expanding infrastructure and bringing in solutions to enhance consumer and seller experience in the country.

Amazon founder Jeff Bezos has already highlighted the importance of the Indian market to its operations.

With Tiger Global-backed Flipkart raising USD 1.4 billion earlier this year, the competition is intense and the rivals are already believed to be gearing up for the festive season.

These investments are being directed towards building warehouses, strengthening logistics and increasing product assortment.

Besides, significant money is being invested in marketing and promotions by the e-commerce players.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Thu, July 06 2017. 14:10 IST
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