- Amazon pumped US$260 million into its India unit last month, according to a regulatory filing. This is part of the US$5 billion investment that Amazon boss Jeff Bezos committed to its Indian arm.
Amazon India has so far received nearly half of that commitment: US$2.3 billion. It has been investing in warehouses, logistics, and broadening its product range.
Why it matters:
- The ecommerce battle has heated up this year, with SoftBank’s US$1.4 billion investment in Alibaba-backed Paytm, and a matching US$1.4 billion into Flipkart led by Tencent. Negotiations are on for the sale of a struggling third Indian player, Snapdeal, to Flipkart, which makes it a three-cornered battle.
Amazon lost out to Alibaba in China, but is on stronger footing in the neutral territory of India’s relatively more open market to beat its Chinese rivals.
This post Brief: Amazon pumps $260m into India to fight off Chinese rivals appeared first on Tech in Asia.