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Amazon announces a further $3B investment in India biz; pressure on Flipkart & Snapdeal

Less than a week after investing Rs 1,350 crore in its India operations, Amazon CEO Jeff Bezos announced that a further $3 billion (about Rs 20,000 crore) will be invested in its India unit, reports Reuters. He also mentioned that Amazon would set up a Web Services Cloud Region in India this year, and a software engineering and development center in Hyderabad. Note that the company had also pumped in funds worth Rs 1,980 crore (or $290 million) into its India unit in February this year. With this Amazon's total investment commitment in India goes up to $5 billion; the $3 billion announced now, plus the $2 billion investment announced back in July 2014, which the company has already completed in phases over the past two years. Pressure on Flipkart and Snapdeal Amazon’s additional investment plans will put pressure on Flipkart and Snapdeal…

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