5:09 pm - Monday February 26, 2024

Flipkart, Amazon announces $2 billion investment in India

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A day after home-grown e-tailer Flipkart announced a $1 billion round of funding, global online retailer Amazon said that it would invest an additional $2 billion to support its rapid growth and enhance its customer and seller experience in India.

“After our first year in business, the response from customers in India has far surpassed our expectations,” said Jeff Bezos, Founder and CEO of Amazon.com, in a statement.

“We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of $2 billion, our team continues to think big, innovate and raise the bar for customers in India,” he added.

Amazon’s announcement also comes a few days after the company decided to build five more fulfillment centres in India, which brings its total number of large warehouses to 7.

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