Amazon will keep investing in India: Minister Narendra Modi is on the US Tour to meet the most influential people. The tour got a happy start as Amazon announced that it will keep investing and growing in India.
Jeff Bezos Founder and CEO of Amazon, express his feelings on Twitter with lots of eagerness that:
“Terrific meeting with Narendra Modi. Always impressed, energized by optimism and invention in India. Excited to keep investing and growing”
Jeff Bezos was one of the Top 20 Business Tycoons who met with the PM Narendra Modi. Other Leaders include Google CEO Sundar Pichai, Microsoft CEO Satya Nadella and Apple’s CEO Tim Cook. All the Business leaders will be investing and growing their market in India.
Amazon will keep investing in India
Amazon has completed 4 years in India and plays a very important role in the E-Commerce Industry. As per the reports by Business Standard, the company has dedicated to invest
$5 Billion in India. Also, it says that half of the investment of company has been gone in Building Infrastructure.
Amazon Vice President and Country Manager of India in the recent Interview with the Business Standard said, India E-Commerce market is just started, we will make a lot of investment in the upcoming years.
He also said “We don’t really hold ourselves back based on a targeted investment. We will require a lot of investment, as will Indian e-commerce. It is still very early and we should be ready to invest for many years”.
As per reports of Experts, the company has invested $1 Billion in India in the year 2016-17. The Rate of Investment in the market will go up by considering the fact that rival’s Flipkart has also got big investors and Chinese rival Alibaba will also be expanding its growth in India.
Amazon growth has been low in the last year, yet the company has seen an effective growth. Amazon India has seen a growth of 85 percent growth in the first quarter of 2017 as compared to the last year. Amazon sales are growing at this speed as all the Amazon “Prime” members are spending more and also new customers like to shop with Amazon.
Amazon.com is growing at a speed of 30 percent and its market is 100 times bigger than India. Amit Aggarwal also said that it’s so early that I foresee double-digit growth for many more years to come.
Thus, Amazon will keep investing in India and increase its market in the big country like India.