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Amazon invests Rs 2k crore; gives stiff competition to Flipkart

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MUMBAI: In an attempt to give tough competition to prime e-commerce website Flipkart, Amazon has infused US$ 296 million (Rs 2010 crore) in its Indian unit. According to regulatory filing, this investment has made Amazon’s total invested capital to Rs 7000 crore.

The investment done in November was a timely move from Amazon as Indian brands such as Flipkart and Uber have been trying to take Government’s help in a bid to challenge foreign competition such as Amazon and Ola.

Amazon India reportedly lost around Rs 1000 crore in the festive month of October with special offers and discounts to build a stronger consumer base. The e-commerce website is also losing around Rs 600 crore every month during non-sales periods. Recently, Amazon India launched prime services which offer quicker and early-access deals.

Prime has a wide range of international movies and TV shows. Along with this, Amazon Prime has also announced the launch of nine Indian original shows, which has made it the largest Indian original line-up over an OTT platform.

Adding to its wide base of services, Amazon is also building an app which would connect truck drivers with shippers, making their debut in the logistics sector.

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The e-commerce firm also announced its global programme for start-up products, Launchpad, in India. Global Store was also launched in October for Indian shoppers from its US online stores, giving stiff competition to all e-commerce platforms.

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