The Indian Wire » Startups » Despite economic slowdown, Amazon plans to continue investing in India

Despite economic slowdown, Amazon plans to continue investing in India

Amazon, world’s biggest e-commerce space, has said that it is ready to invest more in its India business. The statement from the California-based company has come at a time when the current economic health is in the slowdown stream.

The platform further said that it will be focussing on long-term goals instead of getting distracted by the short term situation such as the current economic condition of the country.

While, Amit Agarwal, head of Amazon India, said that the online retailer has been upbeat about both domestic sales and exports.

“As far as our services go, we haven’t seen any slowdown yet,” he added.

Agarwal further said that the Indian customers love to select products for great value and convenience, and so far Amazon has provided them with both.

Amazon is an American multinational technology company, based out of Seattle that focuses on e-commerce, cloud computing, digital streaming and artificial intelligence. It was founded in 1994 by Jeff Bezos.

“One thing to keep in mind is that ecommerce is a very, very small portion of total retail consumption in India, probably less than 3%. So, when you are that small, there is so much room to grow that I think it would be many years before macro conditions like that seriously impact ecommerce growth,” Agrawal said.

In order to lure more customer in India, Amazon gave its voice assistant Alexa an Indian touch by expanding its capabilities to accommodate regional languages.

Interestingly, it has also included Hindi chatbots in its e-commerce for customer grievances.

Furthermore, Amazon has also expanded its processing units in India to support the growing demands of the large user base.

Some of the ace players in the e-commerce industry includes FlipkartMyntraJabongAlibabashopclues, and many more.

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