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Amazon parent infuses Rs 2310 crore in Indian unit

By Retail4Growth Team | July 09, 2020

The fresh funds will provide more arsenal to Amazon in India as the company has been aggressively investing in expanding infrastructure and adding solutions to enhance consumer and seller experience.

US-based e-commerce giant Amazon has invested fresh capital of Rs 2,310 crore into one of its India units, Amazon Seller Services, according to regulatory documents. The fresh funds will provide more arsenal to Amazon in India as the company has been aggressively investing in expanding infrastructure and adding solutions to enhance consumer and seller experience.

Amazon Corporate Holdings and Amazon.com.inc have made the Rs 2,310 crore investment in the unit, documents filed with the corporate affairs ministry showed.

In January this year, Amazon founder Jeff Bezos had announced US$ 1 billion (over Rs 7,000 crore) investment in India to help bring small and medium businesses online. Previously, the online retail giant had committed US$ 5.5 billion investments in India, Amazon’s most important market outside of the US and a key growth driver.

Amazon, which competes against Walmart-backed Flipkart and others in India, has also been pumping in funds into its other entities in the country, including Amazon Pay and its wholesale business.

Tags : Amazon
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