Amazon pumps in more than $600 million into India units
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Amazon.com Inc has invested around 45 billion rupees ($634.20 million) into its Indian subsidiaries as the Seattle-based e-commerce giant ramps up operations in one of its fastest growing markets.
Documents filed with the Registrar of Companies showed that Amazon had pumped the money into its retail, food and payments units. The company did not immediately clarify where or how the money would be used.
India is among the last frontiers for Amazon and a crucial market for growth. Founder Jeff Bezos has committed to spending more than $5b for the Indian market, where Amazon is locked in a battle with Walmart Inc-owned Flipkart.
While both companies have rapidly expanded into various categories such as food retail and payments, Amazon also offers its Prime video streaming and music services in India.
In August, the company said it will pick up a minority stake in India's Future Retail Ltd, which owns several supermarket brands, including budget department and grocery store chain Big Bazaar.
($1 = 70.9550 Indian rupees)
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Comments (37) Closed
Oct 30, 2019 03:14pm
Amazon is a very good retail Platform for both buyers and sellers.
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Oct 30, 2019 03:18pm
Shining india .
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Oct 30, 2019 03:27pm
Good for the Indian consumer. The greater the competition the better the deals for the public
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Oct 30, 2019 03:32pm
Really. thats amazing news if true....
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Oct 30, 2019 04:04pm
Well Done Indians
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Oct 30, 2019 04:20pm
India is much more a valuable market.
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Oct 30, 2019 04:36pm
Its interesting Western companies are shifting their businesses from China to India since the local talent available is of high quality at very minimal rates.
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Oct 30, 2019 04:36pm
Good
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Oct 30, 2019 05:03pm
India and Indians are the future.
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Oct 30, 2019 05:05pm
Amazon will still not be able to win the Indian market. Once Amazon stops giving large discounts, the local e-commerce players will eat away its market share.
Amazon has already invested more than 3 billion dollars in India.
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Oct 30, 2019 05:26pm
Online retailers are killing the local traditional provisions stores. Leading to loss of available employment. For Amazon, India is a big one as it faces restrictions in China
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Oct 30, 2019 05:35pm
@Babbar , they already have. Amazon is the number one e commerce brand in India. By the way discounts has nothing to do with long term sales.
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Oct 30, 2019 05:57pm
Pakistan’s commerce and IT departments should invite Amazon, AliBaba and ebay etc. to establish their operations. A country with 220million population is a big market as well. This could lead to new sprit in local e-commerce players like Daraz etc.
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Oct 30, 2019 06:05pm
That's not enough, this is no news for India.
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Oct 30, 2019 06:11pm
They will lose money then withdraw having sunk all the investments. It's a normal pattern with past investors.
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Oct 30, 2019 06:12pm
@Babbar , And they have lost, but Indians are convincing him to sink more in hope of profits.
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Oct 30, 2019 06:22pm
INDIA is flush and has investing coming out of its ears
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Oct 30, 2019 06:23pm
INDIA is just booming
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Oct 30, 2019 07:26pm
@Faheem, :
First create batter environment for foreign investment.
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Oct 30, 2019 08:03pm
@Zak, Yet they just keep coming. Heard about the aramco deal with reliance ?
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Oct 30, 2019 09:18pm
Saudi recently invested $100 billion in India, whereas refused entry to PM of our western neighbor.
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Oct 30, 2019 10:03pm
@Faheem, from 220million how many can buy online ?
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Oct 30, 2019 11:31pm
@Zak, Really? Like whom? Name one.
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Oct 30, 2019 11:34pm
The products available on Amazon is simply mind-blowing and also their discounts and cash back offers.
Sadly the government is mulling imposing restrictions on their discounts in pricing.
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Oct 30, 2019 11:55pm
@Zak, and the richest man in the world needs financial advice from who ?
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Oct 31, 2019 01:38am
pakistan must be doing something wrong for these investors to pass looking at pakistan for investment.
fix it
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Oct 31, 2019 02:22am
@Zak, Please invest in Pakistan also.
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Oct 31, 2019 03:21am
@Amitjatt, ... Amazon is willing to take your money.
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Oct 31, 2019 03:21am
@Chanakya, .... The future of what?
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Oct 31, 2019 03:57am
@Jalal Jawad, @Zak, and the richest man in the world needs financial advice from who ?
Well said
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Oct 31, 2019 07:27am
@Scientist, I think shining Amazon is a better statement here.
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Oct 31, 2019 07:45am
If not stopped Amazon at early stages, it will consume small businesses from nation and bring huge layer of unemployment then price gauging once small business are out of business. Stop them now!
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Oct 31, 2019 12:36pm
@Zak, and which are those past Investor ?
Can you educate Indians like me - as we are poor hungry people from third world country India in front of Super Power CPEC.
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Oct 31, 2019 12:44pm
@Zak, yes please tell IK to advice Owner or CEO of Amazon, Microsoft, IBM, Google, Facebook, PepsiCo, McDonald's, HSBC, Barclay, Apple, Oppo, MI, Bosch, Honda, Nissan, Toyota, Renault, GE, Mercedes-Benz etc.not to invest in poor hungry India, instead they can invest in Super Power CPEC
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Oct 31, 2019 12:48pm
@Zak, You are out of your mind. Don't say, if you don't know anything
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Oct 31, 2019 05:03pm
@Zak, a citizen of economically failed nation, dependent on only loans and donation, suggesting the world richest on investment plans. Happens only in Pakistan.
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Oct 31, 2019 09:15pm
Ambani's iReliance s going to enter in e-commerce portal...fun will start
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