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Amazon scaling up investment for Indian marketplace biz

The e-commerce giant Amazon has invested additional Rs 2,700 crore for its Indian marketplace unit

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MUMBAI: E-commerce giant Amazon has invested additional Rs 2,700 crore for its Indian marketplace unit at a time when it continues to battle its local rival Flipkart along with investing about Rs 100 crore for food retail business in India, according to a report from Mint.

According to the regulatory documents filed with the Registrar of Companies sourced by Paper .vc, the marketplace arm of Amazon India , Amazon Seller Services, received the funds earlier this month. Now its total investment in India stands roughly at $4 billion. The company has been spending all its cash on building massive warehouses, a large logistics unit, marketing, discounts and increasing product assortment.

Earlier the online retailer pledged to invest at least $5 billion in India along with allocating an additional $500 million to build its food retail business. Back in June 2016, Amazon Inc CEO Jeff Bezos committed an additional $3 billion after fulfilling the initial target of $2billion made in 2014. The Indian market holds high importance for Amazon Inc’s international expansion.

The report also says that earlier Amazon India chief Amit Agarwal indicated that the company will invest as much as necessary to conquer the Indian market. Flipkart is also leaving no stone unturned, especially on the back of the deal with deep-pocked Walmart. Both the companies are focusing on sales growth rather than cutting losses.

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