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 26th Jul 2017

Vietnam’s textile & garment exports cross $13bn in H1

Vietnam earned $13.... billion from textile and garment exports in...

Courtesy: IVL

Textiles | On 26th Jul 2017

IVL completes PTA capacity expansion in Europe

Indorama Ventures Public Company Ltd (IVL), a global chemical...

Textiles | On 26th Jul 2017

Textile Corp of America to create 1000 jobs in Tennessee

Textile Corporation of America Inc, a leading textile manufacturer,...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Silvia Venturini Fendi
Fendi s.r.l

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X