Home / Knowledge / News / E-commerce / Amazon pumps fresh fund of ₹2,310 cr into India unit

Amazon pumps fresh fund of ₹2,310 cr into India unit

13
Jul '20
Pic: Amazon
Pic: Amazon
Amazon has infused fresh capital to the tune of ₹2,310 crore into, Amazon Seller Services, one of its units in India, according to regulatory documents filed with the corporate affairs ministry. Amazon Corporate Holdings and Amazon.com have made the investment in the unit. Amazon Seller Services board of directors passed the resolution at its June 25 meeting.

The fund infusion is likely to push the company’s efforts to grow its seller network in India after COVID-19-induced business disruptions.

Amazon founder Jeff Bezos had announced $1 billion (over ₹7,000 crore) investment in India in January this year to help bring small and medium businesses online. Previously, it had committed $5.5 billion investments in India.

The board of Amazon Seller Services had passed a resolution in January this year to allot shares worth about ₹2,208 crore to Amazon Corporate Holdings and Amazon.com Inc. About ₹355 crore was pumped into Amazon Data Services India as well.

Amazon Seller Services narrowed its loss 9.5 per cent year on year to ₹5,685 crore for fiscal 2018-19. Revenues surged by 55 per cent to ₹7,778 crore in 2018-19, according to a news agency report.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Retail | On 10th Aug 2020

EU retail trade volume level returns to pre-COVID level

In June 2020, a month marked by some relaxation of COVID-19...

Pic: Shutterstock

Textiles | On 10th Aug 2020

Pak TPB to rationalise textile sector tariff structure

Pakistan's Tariff Policy Board has decided to rationalise the tariff...

Pic: Shutterstock

Retail | On 10th Aug 2020

Japan's World Co to shut 358 stores by March 2021

World Co, a clothing company headquartered in Kobe, Japan, will close ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Wearables have very limited reach

Cindy McNaull, Cordura

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Rajiv Sirohi, Shara

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Henk-Jan Rohaan,

Henk-Jan Rohaan

The custom-built machineries of Brugman Holland are known for reliability, ...

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Bani Batra,

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

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

Leave your Comments


July 2020

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


Advanced Search