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Amazon to invest additional $2 billion in India

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MUMBAI: Amazon is looking at India as a potential market. The e-commerce platform which launched its maiden TVC to woo Indian consumers during this edition of Indian Premier League, has now decided to invest an additional $2 billion to support its rapid growth and to enhance customer and seller experience in India.

According to Amazon, since its launch just over a year ago, its marketplace (www.amazon.in) has grown to be India’s largest store with over 17 million products from a continually growing base of thousands of small and medium-sized businesses, serving millions of customers across India and delighting customers with its guaranteed next-day delivery service. 

“After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations," said Amazon founder and CEO Jeff Bezos. 

He added, "We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of US $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India. At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales. A big ‘thank you’ to our customers in India – we’ve never seen anything like this."

On 29 July, Flipkart had announced that it was raising $1 billion which will be used to make long-term strategic investments in India, especially in mobile technology.

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