Retail in Asia

In Shops

In race with Flipkart, Amazon announces USD2b investment in India

A day after India’s largest e-commerce player announced  USD1 billion in new round of funding, Amazon said it will invest an additional $2 billion in its India arm to support rapid growth.

The Amazon India marketplace was launched last year and the company said it has grown to be the largest e-store in India with over 17 million products from a continually growing base of thousands of small and medium-sized businesses

"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, in a statement. "We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India."

Bezos also said at current scale and growth rate, India is on track to be Amazon’s 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," he added.

Customers of www.amazon.in and Amazon’s mobile shopping application can Amazon’s guaranteed next-day delivery on more than 300,000 products fulfilled by Amazon. They also benefit from a safe and secure ordering experience, convenient electronic payments, Cash on Delivery, no-risk hassle-free returns policy, 24×7 customer service support, and a globally recognized and comprehensive 100 percent purchase protection provided by Amazon’s A-to-Z Guarantee.