Amazon announces US $2 billion new investment in India

By : |July 30, 2014 0

BANGALORE, INDIA: Amazon today 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.

Jeff Bezos, founder and CEO of Amazon.com said, “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.”

Since its launch just over a year ago, Amazon’s marketplace (www.amazon.in) has grown to be India’s largest store with over 17 million products from a continually growing base of thousands of small and medium-sized businesses, serving millions of customers across India.

“After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations,” said he.

Customers on www.amazon.in and Amazon’s mobile shopping application can shop anywhere with ease and confidence. A large base of small and medium-sized businesses are already benefitting from Amazon’s investment in its Fulfillment by Amazon offering.

 

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