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Amazon pours $290M in India unit, Q4 2015 was the highest growth point

By Salman SH and Sneha Johari Ecommerce giant Amazon has added new funds worth Rs 1,980 crore (~ $290 million) into its Indian business unit, reports Mint. The report adds that Amazon India has now received Rs 7,679 (~$1.1 billion) since July 2014, which includes the infusion of Rs 1,696 crore in December last year, according to a filing with the Registrar of Companies (ROC). To MediaNama’s query about the new funds infusion, Amazon said, “We are very pleased with the growth momentum we are witnessing in India. In Q4-2015 we sold more than we did in all of 2014. We  are committed to invest aggressively in the country with a long term horizon and transform the way India buys and sells.” The recent fund addition comes after Jeff Bezos, founder and CEO of Amazon, pledged $2 billion in India, back in 2014 to support its growth and improve the customer & seller experience in the country. Amazon has been expanding across multiple product categories claiming to add up to 40,000 products per day in 2015, with more than 30 million products on it platform. The number of sellers on Amazon India reportedly grew by 250% year-on-year, while the 2015 Diwali season sale fetched the e-tailer daily sales of approximately four times of what it made in 2014. Financials: The company reported a net profit of $482 million during Q4 2015, registering a 125% growth in net profits, from $214 million in the same quarter last year. The company also…

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