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  1. Drones coming? Amazon India arm Amazon Technologies gets Rs 130 cr from US parent

Drones coming? Amazon India arm Amazon Technologies gets Rs 130 cr from US parent

The logistics arm of Amazon India, Amazon Transportation Services, has secured Rs 130 crore (about $20 million) from its US-based parent, according to documents filed recently with the registrar of companies (RoC).

By: | Bengaluru | Published: November 7, 2017 5:16 AM
amazon, amazon drones, drones by amazon Amazon in July had decided to infuse Rs 400 crore into its logistics arm. (Reuters)

The logistics arm of Amazon India, Amazon Transportation Services, has secured Rs 130 crore (about $20 million) from its US-based parent, according to documents filed recently with the registrar of companies (RoC). The infusion assumes significance as it comes close on the heels of the Directorate General of Civil Aviation (DGCA) inviting public comments on the draft rules on use of drones, including for commercial purposes, which the aviation regulator hopes to finalise by the year-end. Amazon in July had decided to infuse Rs 400 crore into its logistics arm. RoC filings show that Amazon Transportation received Rs 207 crore in March 2017 and Rs 67 crore in September 2016. Recently, minister of state for civil aviation Jayant Sinha had said, “E-commerce deliveries using drones are certainly going to be possible in India. Companies like Amazon and Flipkart can deliver products with the technological developments we are seeing in the aviation eco system.”

During the recent sale period, data from research and consultancy firm RedSeer showed that Flipkart cornered 58% of overall sales by gross merchandise value. Amazon’s market share dipped to 26%. Other online retail firms accounted for the remaining 16%. However, Amazon dismissed the report.

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