“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
Textiles | On 25th Mar 2017
The implementation of the Goods and Services Tax (GST) bill in India...
Apparel/Garments | On 25th Mar 2017
Net sales totalled $85.0 million for the fourth quarter ended January ...
Textiles | On 24th Mar 2017
Li & Fung Limited, the world's leader in consumer goods design,...
Dow Microbial Control
'Silvadur is most rapidly adopted in areas where hygiene-conscious and...
We constantly communicate with employees at all levels
Shiladitya K Joshi
Truetzschler India Private Limited
India ITME provides a platform to interact with our stakeholders
Bombay Textile Research Association
Bombay Textile Research Association (BTRA) is a leading name in textile...
Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...
Swerea IVF AB
Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...
Yash P. Kotak
Bombay Hemp Company
One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...
Sonam and Paras Modi's Sva Couture is synonymous with head-turning...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...