Amazon to Invest Over Rs 1700 Crore in India

New Delhi, January 15, 2020:

E-commerce major Amazon has announced an investment of more than Rs 1700 crore in India to up the ante in the wholesale segment.

The Amazon India units have been able to attract the huge investment following the successful business in the country. As per regulatory documents, the investments have been made in the payments and wholesale segments.

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Amazon Pay India has, reportedly, received Rs 1,355 crore from Amazon Corporate Holdings Pvt Ltd and amazon.com.incs.Limited. While the digital payment unit allotted shares to the units on December 31, 2019, Amazon Wholesale (India) Pvt Ltd allotted shares worth about Rs 360 crore on December 30.

It may be mentioned here that Amazon has invested over Rs 4,400 crore in the Indian units. In 2018-2019, the e-commerce giant had pumped in more than Rs 7,000 crore in India.

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Amazon CEO Jeff Bezos is currently in India for a two-day flagship event being organised by the company for small and medium businesses on Wednesday. He is expected to meet key leaders and policymakers, and Prime Minister Narendra Modi.

Bezos visited the memorial of Mahatma Gandhi in Delhi to pay his tribute to the Father of the Nation on Wednesday morning. He shared a tweet reading, “Live as if you were to die tomorrow. Learn as if you were to live forever.” - Mahatma Gandhi.”

It may be mentioned here that e-commerce giant Amazon has emerged as one of the main go-to shopping sites for Indian. While Flipkart has been giving a tough competition, Amazon has decided to strengthen its India units to surpass its rival in the e-commerce market.

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