Amazon has pumped in $306.3 million (Rs 1,950 crore approximately) into its Indian arm. Evidence of the investment was spotted in Registrar of Companies documents. Also Read - Flipkart Mobiles Bonanza sale top deals: iPhone SE, Poco X3 Pro and more on discountAlso Read - iPhone 11, iPhone XR up for grab with massive discount on Flipkart Big Saving Days sale
Amazon Seller Services Pvt. Ltd, the local arm of Amazon.com, has received the funds from its parent company, as well as Singapore-based Amazon Corporate Holdings Pvt Ltd. The filings were first spotted by ET. An Amazon India spokesperson told BGR India, We remain committed to our India business with a long-term perspective to make e-commerce a habit for Indian customers and to invest in the necessary technology and infrastructure to grow the entire ecosystem. We are delighted and humbled by the trust from our customers, to lead e-commerce in India.” Also Read - Flipkart Big Saving Days sale begins: Pixel 4a, Realme X7, Samsung Galaxy F62, more on discount
The latest investment comes after Amazon had pumped $446 million (Rs 2,900 crore approximately) into its Indian arm back in November. In 2017-18, the e-commerce giant has invested around $1.3 billion into its Indian operations. These investments are in line with founder Jeff Bezos commitment of pumping in $5 billion into Amazon India. Of this, the company is said to have invested around $3 billion (Rs 19,800 crore approximately) so far.
The frequent investments is likely to be a result of Amazon India s increased spending on growing its market share and garnering new customers. It is currently locked in an intense battle for e-commerce supremacy against India s Flipkart.
Speaking of which, Flipkart has so far invested around Rs 8,349 crore. Back in August last year, it raised around $2.5 billion from Softbank. Before that, it had raised $1.4 billion from the likes of Microsoft, Tencent, and eBay. Lately, the homegrown e-commerce company has been focused on catching up to Amazon India s logistics supremacy.