Home / Knowledge / News / Apparel/Garments / Amazon to invest $3 bn more in India
Amazon to invest $3 bn more in India
08
Jun '16
Global e-commerce major Amazon will invest an additional $3 billion in its India operations to take its investment in the country to over $5 billion, its founder and CEO Jeff Bezos has said.

Bezos made the announcement at the annual gala of US India Business Council (USIBC) in Washington which Prime Minister Narendra Modi attended.

“Amazon will invest $3 billion more in India. This is in addition to the $2 billion announced in 2014,” Bezos said at the event.

“We have already created some 45,000 jobs in India and continue to see huge potential in the Indian economy,” Bezos said.

Amazon has targeted India for international growth after pulling back from China due to fierce competition from that country's e-commerce giant Alibaba Group Holding Ltd.

The infusion underlines how Amazon India is ramping up its cash burn rate at a time when local rivals like market leader Flipkart, and Snapdeal are conserving capital and focus more on unit economics.

Amazon India has already overtaken Snapdeal in terms of number of shipments, and is moving close to leader Flipkart's market share.

In addition to seeking new customers, Amazon is also looking at India as a key country from which it can source goods directly and sell to its customers around the world. The company has a long-term vision to be the primary middleman connecting factories in India and China with customers in the US and Europe.

Amazon, which gets most of its international revenue from the UK, Japan and Germany, doesn't break out sales from India. Revenue from a group of other international markets, including India, reached $7.4 billion in 2015, or 6.9 per cent of total sales. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search