Amazon invests Rs 1,680 Crore more in India Unit

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Amazon invests Rs 1,680 Crore more in India Unit: E-commerce giant Amazon invests Rs 1,680 Crore more in India Unit in order to reinforce operations in growing E-commerce market.

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Amazon has made a commitment to invest $5 billion in the Indian Market. This shows that the E-commerce giant is ready to provide better value and service to India customers. Also, it is going to compete with the popular local E-commerce rival, Flipkart. Amazon Seller Services received the funds in June, as per the regulatory filings with the ministry of corporate affairs.

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Amazon invests Rs 1,680 Crore more in India Unit

One of the Amazon India Spokesperson said in an Email response that, “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.”

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In June 2016, Amazon promised to invest $3 Billion in the Indian market. Moreover, this announcement was made after CEO of Amazon invested $2 billion in the Indian E-Commerce Market in July 2014. This investment was mainly made to build warehouses, a large logistics unit, marketing, offering stunning discounts, and accelerating product assortment.

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In April 2017, Flipkart has raised $1.4 billion from various new strategic investors such as China’s Tencent Holdings, eBay, and Microsoft. However, the Company has raised more than $4.6 billion since 2007 from various investors. Currently, Flipkart plans to buy the local rival Snapdeal. Softback is the biggest investor of Snapdeal has been negotiating the deal with the Flipkart.

Read More: Amazon will keep investing in India

Amazon will be celebrating Amazon Prime Day in 13 Countries, offering various amazing deals and discounts, especially for all Prime Customers. Amazon Prime Day will start on July 10 at 6 PM in India.

Currently, Flipkart is the market leader which is increasing its sales from Myntra and Jabong, but Amazon India is gearing up the popularity by increasing its sales and services.

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