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Amazon invests Rs.2900 Crore into Indian unit to compete Flipkart
Posted on: 16-11-2017 , 10:26:AM | DY365 Bureau

 Image for representational purpose only. Source : Internet

The global e-commerce leader Amazon has invested Rs 2,900 crore in its India unit, Amazon Seller Service in a bid to compete against its rival Flipkart, India’s home grown e-commerce firm.

This investment is a part of Amazon's commitment to invest $5 billion into the Indian market.

According to regulatory filings with Registrar of Companies, Amazon has invested a total of $2.6 billion or Rs 17,840 crore in the current financial year itself, including this amount.

An Amazon India said in a statement, "We had the first Prime Day sale here this year, Prime Music, Amazon Business are also expanding in India. So, a lot of positive momentum and investment is going on in India, and we are very pleased with that. Our recently announced Echo and Alexa will be available in India soon.”

 
 

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