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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

Press Trust of India  |  New Delhi 


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

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

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

"We remain committed to our business with a long- term perspective to make a habit for Indian and invest in the necessary technology and to grow the entire ecosystem," an Amazon 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 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 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 to its operations.

With Tiger Global-backed 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 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.)

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