Amazon invests Rs 1,680 cr in India, crosses $2 bn in funding

Amazon

Latest News – Global giant Amazon has invested an additional Rs 1,680 crore in its India unit as it looks to further strengthen operations in the booming e-commerce market here.

The fresh infusion — part of Amazon’s $5 billion commitment to Indian market – will also provide more arsenal to the Indian entity that is locked in an intense battle for leadership with local rival, Flipkart.

Amazon Seller Services (Amazon India) received the funds last month, as per regulatory filings with the corporate affairs ministry.

“We remain committed to our India business with a long- term perspective to make e-commerce a habit for Indian customers and invest in the necessary technology and infrastructure to grow the entire ecosystem,” an Amazon India spokesperson said in an e-mailed response.

In June last year, the US-based firm (Read More)

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