Amazon crosses $2 billion investment mark in India, invests Rs.1,680 crore

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Amazon has crossed whopping $2 billion investment mark in India with latest investment,according to a report from the Economic Times. The US based e-commerce major has pumped another Rs. 1640 crore in the country as part of its commitment to invest $5 billion

According to the report, Amazon has invested latest funds in its core local unit Amazon Seller Services. In June last year, Amazon CEO Jeff Bezos committed additional $3 billion after it committed $2 billion in 2014. Amazon India has already received more than Rs15,000 crore ($2.31 billion). The latest capital investments makes Amazon second largest global investor in India after Japanese internet major SoftBank which has invested close to $4 billion in the country.

With the launch of Prime delivery and Prime Video service, Amazon has already made it clear that India is an important market for the e-commerce giant. The company is gearing up to soon get a green signal from the government for its proposed $500 million investment in food retail in India. Amazon India’s latest investment comes right ahead of Amazon’s first Prime Day sale scheduled on July 11 for Indian customers.

Amazon India’s rival Flipkart recently raised a round of $1.4 billion funding, led by Chinese internet conglomerate Tencent and US technology corporations eBay and Microsoft. This round took Flipkart’s total capital raised till date to a whopping $4.6 billion.


Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+