Amazon plans to invest 1,155 in Indian market


In one of its largest tranche of investments in India since it entered the country in 2013,  online retail giant, Amazon plans to invest Rs. 1,155 crore to build its presence in India. The company had earlier raised Rs 610 crores.

Amazon had announced a $2 billion (about Rs 12,500 crore) investment in the country without giving a time frame, last year and has invested Rs 2,500 crore since then, including the latest fund infusion.

Amazon India, which entered India a year ago, had a net loss of Rs 321 crore in the year ended March 2014. Last year, Amazon launched over two dozen new stores on its portal, increasing its selection to more than 19 million products with a seller base of more than 16,000 vendors.

The e-commerce sites have an intense competition which is driven by offering heavy discounts, sale and freebies. Online retail market in India is expected to take a fourfold increase to $60-70 billion (about Rs 3.72-4.34 lakh crore) in the coming next five years... See more 

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