Amazon continues to invest in India

May 11, 2017

Amazon India has become the country’s most popular marketplace. The US based e-commerce giant, Amazon will keep on investing in the Indian market so as to strengthen its technology and infrastructure.

Jeff Bezos, the founder and CEO of Amazon, claimed that the company has become the market leader in India’s $15 billion online retail market, after the firm reported quarterly numbers that blew past market expectations. Amazon's global net sales jumped 23 percent to 35.7 billion dollars while net income increased from 41 percent to 724 million dollars.

“We’re grateful that customers are responding. Amazon.in is the fastest growing marketplace in India. It is still day one for e-commerce in India and I guarantee you that we will keep on investing in technology and infrastructure while working hard to invent on behalf of our customers and small and medium businesses in India.” said Bezos 

Currently Flipkart is ahead of Amazon on the value of goods sold through its platform. It recently raised a huge amount of 1.4 billion dollars from Tencent, Microsoft and eBay. Amazon which has arrived six years after Flipkart in India is dedicated to catch up its rivals and certainly it is making a progress and has already made a mark in the industry. Till now, Amazon has invested more than 5 billion dollars in the country, more than the joint investment of two of the leading domestic giants, Flipkart and Snapdeal.

 “We continue to be encouraged by both the response from customers and sellers (from India). As far as level of investment is concerned, it is certainly one of our important investment areas. The company sees a lot of potential for the country and our business there,” said Brian T. Olsavsky, Amazon CFO.

Amazon.in is the fastest growing marketplace in India and the most visited site on both desktop and mobile, according to analytics firm’s SimilarWeb and comScore. The data compiled by analytics firm App Annie was also cited by the Amazon, which said that the Amazon.in mobile app is the most downloaded shopping app in India. 
 

May 11, 2017

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