Amazon Inc to invest another $3 b in India – Feedback

Global e-commerce giant Amazon.com is ramping up its investments in India, pumping in $3 billion on top of the $2-billion investment announced in 2014.

The fresh round of funding comes at a time when other online retailers in India, including Snapdeal and Flipkart, are struggling to secure new investors. Making the announcement in Washington DC, at an event attended by Prime Minister Narendra Modi, Amazon founder Jeff Bezos said: “We have created some 45,000 jobs in India and continue to see huge potential in the Indian economy. Our Amazon.in team is surpassing even our most ambitious milestones.” The key focus areas for Amazon in 2016 are its hyperlocal business, Amazon Now, and its assisted shopping offline outlet, Udaan. “Amazon Now has grown three times in just three months, and we plan to roll it out in other cities this year,” Agarwal added. The service is currently available only in Bengaluru. Amazon’s $3 billion additional investment in India could also be to prepare for the imminent entry of Chinese rival Alibaba.

http://www.thehindubusinessline.com/todays-paper/amazon-inc-to-invest-another-3-b-in-india/article8706856.ece

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