Amazon To Invest Additional US $2 Billion in India!
Amazon has announced that it will invest an additional US $2 billion to support its rapid growth and continue to enhance the customer and seller experience in India!
This comes a day after Flipkart announced its billion dollar funding.
“After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations,” said Jeff Bezos, founder and CEO of Amazon.com. “We see huge potential in the Indian economy and for the growth of e-commerce in India.
With this additional investment of US $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India. At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales. A big ‘thank you’ to our customers in India – we’ve never seen anything like this.”
Amazon has expanded in several categories including apparels (apart from books; eBooks & Tablets; Movies & TV shows; Kindle Devices, Computers & Accessories; Mobiles & Accessories; Consumer Electronics; Toys etc) and has been giving a tough fight to Flipkart in categories like tablets and cameras [read : Who is Bigger; Amazon Or Flipkart?]. As far as logistics are concerened, Amazon recently added 5 new fulfillment centers in Delhi, Chennai, Jaipur, Ahmedabad and Tauru (outskirts of Gurgaon).
The real deal, we believe for Amazon is when it also starts bringing exclusives the way Flipkart has been doing with Moto and Xiaomi – that’s a show of strength (and margins).
For now, the ecommerce gold diggers are having a ball!