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.
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.
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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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