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Read more about Amazon global loss tops $2 bn in Jan-Sept period on India investments on Business Standard. Amazon founder Jeff Bezos has committed investments to the tune of $5 billion for the Indian market
period on India investments
Amazon is burning its hands in the Indian market as its losses more than doubled
to $2.1 billion in the January-September period year-on-year, the Times of India
reported. In the corresponding period last year, it had incurred a loss of $800
As reported by Business Standard earlier, the US e-commerce giant has pumped
in about Rs 62 billion in the Indian market in the first nine months of the previous
The Jeff Bezos-led company has infused fresh capital to the tune of Rs 19.5 billion
into its India unit, Amazon Seller Services to strengthen the war-chest of the
company against the domestic rival, Flipkart.
Amazon Seller Services has so far received over $1.28 billion during this financial
year from its US parent, as per documents filed with the corporate affairs
The company has been aggressively investing in expanding infrastructure and
adding solutions to enhance consumer and seller experience.
Amazon founder Jeff Bezos has committed investments to the tune of $5 billion
for the Indian market. The American company has also been pumping in funds
into its other entities in India, including Amazon Pay and its wholesale business.
These investments have been directed towards building warehouses,
strengthening logistics and increasing product assortment.
Amazon is also investing significant money in marketing and promotions as the
company looks to bring more consumers into shopping online on its platform.
Bezos, as part of investor calls, has highlighted the importance of the Indian
market to its operations on multiple occasions and has assured that the company
will continue to invest in India.
When contacted, an Amazon India spokesperson said: "We remain committed to
our India business with a long-term perspective to make e-commerce a habit for
Indian customers and to invest in the necessary technology and infrastructure to
grow the entire ecosystem".
Homegrown player Flipkart has also beefed up its kitty with funding of about $4
billion this fiscal. Japanese conglomerate SoftBank infused about $2.5 billion,
while Tencent, Microsoft and eBay pumped in about USD 1.4 billion into the
Article By - Business Standard