Amazon to invest $2billion in its India operation
Here comes the big news, after Flipkart recently raised funds, Amazon is likely to invest $1 billion in its India operation which looks like Amazon is all set to fight the undeclared war in the e-commerce space.
Amazon CEO and founder Jeff Bezos explained about the “huge potential” that he sees in India :
“After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations. 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.”
The fight in the online retail market space seems to be growing interesting day by day with big players fighting to gain the market share and sustain their business.