1. Amazon infuses Rs 1,680 crore into Indian ops

Amazon infuses Rs 1,680 crore into Indian ops

Amazon has infused Rs 1,680 crore ($250 million) into its Indian marketplace operation – Amazon Seller Services – according to a regulatory filing on Registrar of Companies (RoC).

By: and | New Delhi | Updated: July 6, 2017 5:37 PM
amazon, amazon investment in india, amazon india investment, amazon indian marketplace operation It should be noted in June last year, the US based e-commerce company’s founder and CEO Jeff Bezos had committed an additional investment of billion, thus taking the total investment in India to billion. (Reuters)

Amazon has infused Rs 1,680 crore ($250 million) into its Indian marketplace operation – Amazon Seller Services – according to a regulatory filing on Registrar of Companies (RoC). It should be noted in June last year, the US based e-commerce company’s founder and CEO Jeff Bezos had committed an additional investment of $3 billion, thus taking the total investment in India to $5 billion. In 2014, Bezos had committed an initial investment of $2 billion. Following the announcement, in October 2015, the parent company had put in Rs 1,237 crore into Amazon Seller Services.

Amazon Seller Services’ losses more than doubled to Rs 3,572 crore in the financial year ended March 2016, from Rs 1,724 crore in the previous financial year, according to RoC filings.

In a email response, Amazon India spokesperson said,”We remain committed to our India business with a long-term perspective to make e-commerce a habit for Indian customers and to invest in the necessary technology and infrastructure to grow the entire ecosystem. We are delighted and humbled by the trust from our customers, to lead in India things that matter to our customers in just four years of our business, while continuing to launch innovative India-first initiatives as well as completely new offerings like Prime and Prime video”.

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