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Amazon continues heavy investment in India
27
Oct '15
E-commerce major Amazon which had announced an investment of $2 billion to expand its operations in India last year, continues to invest “very heavily” in the Indian market, encouraged by its strong sales numbers and expanding seller base, the company's Senior Vice President and CFO Brian T. Olsavsky has said.

But he declined to disclose specific investment details.

Olsavsky said the company has seen sales quadruple during the festive season compared to last year, according to an agency report.

He said that the company has been adding 40,000 products a day so far this year on its platform and the number of sellers has grown more than 250 per cent year-on-year with about 90 per cent of those sellers using Amazon's logistics and warehouse services. Olsavsky said it has resulted in Amazon tripling its fulfilment capacity year-on-year.

India is one of the fastest growing markets for Amazon. The company is investing heavily into setting up warehouses across the country to speed up delivery and efficiency.

Earlier this month, it set up a new fulfilment centre in Pune, taking the total count to over 21 with a cumulative storage capacity of over five million cubic feet. (SH)

Fibre2Fashion News Desk – India

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