Amazon pumps in Rs 2,800 crore into India unit after its exit from China
Online retail giant Amazon has stepped up its investment in India and pumped in Rs 2,800 crore into its marketplace. The fresh investment comes at a time when the Seattle-headquartered firm has signed off from China. In December last year, Amazon invested Rs 2,200 crore into its Indian entity.
The investment was made into Amazon Seller Services (Amazon.in), which runs a marketplace that assists sellers to sell their products online. The funding is expected to help Amazon take on its rival Walmart-owned Flipkart with whom the company is in a fierce battle for dominance in India’s online retail market.