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Amazon invests additional Rs 2,700 crore in the Indian e commerce space, says report

Amazon invests additional Rs 2,700 crore in the Indian e-commerce space, says report

Amazon invests additional Rs 2,700 crore in the Indian e-commerce space, says report
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By CNBC-TV18 Aug 14, 2018 10:25:49 AM IST (Published)

Jeff Bezos, chief executive officer of Amazon had earlier committed to invest about $5.5 billion in India.

Amazon Seller Services, the market place unit of e-commerce giant Amazon, received an infusion of Rs 2700 crore, earlier this month, to keep up with the competition from Flipkart, who upped the game by getting into a $16 billion deal with Walmart, Business Standard reported.

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According to the documents filed with the Registrar of Companies, Amazon said it has also invested Rs 100 crore in its retail business, which will drive its food category, BS report mentioned, adding that the US based company would invest $500 million into food retail, soon after the centre opened the sector to 100 percent foreign direct investment.
Jeff Bezos, chief executive officer of Amazon had earlier committed to invest about $5.5 billion in India. So far, the investments made in the country has gone towards developing infrastructure, technology, warehousing, logistics among others, the report said.
The company has also made large investment in its Prime programme, which requires heavy capital on logistics, ensuring faster deliveries, added the report.
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