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Amazon infuses Rs 2,900 crore in its e-commerce unit in India: report

Amazon has further infused Rs 2900 crore in its Indian e-commerce arm Amazon Seller Service, reports The Economic Times.  According to the publication, Amazon Seller Services is also increasing the authorized share capital from Rs 16,000 crore to Rs 31,000 crore. A spokesperson confirmed the development to MediaNama.

Amazon has a total investment commitment in India of $5 billion (approx Rs 32600 crore)- $3 billion the company committed in June last year, plus $2 billion investment announced back in July 2014, which the company has already completed in phases over the past two years.

Amazon’s investments in India since its announcement of $3 billion in June 2016:

Where does Flipkart stand?

For around last two years, the flight in the Indian e-commerce battleground was between three main players- Flipkart, Amazon and Snapdeal. But, Snapdeal has lost the ground in recent past after it called off its merger with Flipkart.

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MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

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    © 2008-2018 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ