Amazon has crossed investment worth $2 billion in India as a result of further Rs 1680 crore ($26.4 million) investment in its core local unit – Amazon Seller Services. Amazon is the second largest foreign direct investor (FDI) in India. Amazon is also gearing up for the upcoming Diwali season, this November, and investment in logistics and warehousing has been progressing. Aggressively taking on its competitor Flipkart- Myntra- Jabong combination, Amazon has recently announced its Prime Day sale to tackle with Flipkart, its only remaining competitor in the market.
While Amazon had just entered India in 2013, Amazon India has been launching innovative initiatives in India such as Prime and Prime video.
“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”, an Amazon spokesperson has recently said in an interview.
Amazon.com also called Amazon, is an American electronic commerce and cloud computing company that was founded on July 5, 1994 by Jeff Bezos and is based in Seattle, Washington. It is the largest Internet-based retailer in the world by total sales and market capitalization.
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