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Amazon to invest more in India
May '16
Global e-commerce major Amazon plans to boost investment in its Indian arm which is seen as closing in on market leader Flipkart.

Amazon's chief financial officer Brian Olsavsky, speaking at an investor call after the company's first quarter results last week, said the company is making large investments in India.

"We're very excited about what we see and we will continue to invest heavily in India," he said.

Amazon has already invested more than Rs 15,000 crore in its e-commerce operations in India so far.

India is Amazon's second biggest investment market, after the US, and the company expects India to overtake Japan, Germany and the UK to become its largest overseas market in the next few years.

Olsavsky who had recently visited India, spent a week with Amazon teams in Bengaluru and Hyderabad.

"I had a chance to see firsthand the level of invention going on with both customers and sellers...it's a very exciting time in India and again, the invention is off the charts. We are inventing things in India that do not exist in other parts of the world. And the team there is one of our best," he said.

Olsavsky said that for the second year in a row, customers selected Amazon India as the company's "most trusted" online shopping brand. He noted that in the last quarter, Amazon India rolled out the Tatkal programme, a studio-on-wheels that goes to sellers to help them sign up. (SH)

Fibre2Fashion News Desk – India

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