E-commerce platform Amazon infuses over INR 4,400 cr in India business

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Amazon, an e-commerce leader, has infused more than INR 4,400 crore in its various units in India, including marketplace and food retail, reported ET.

The pumping of financial into the India business has been done to provide more ammunition in order to compete against Flipkart, and other rivals.

According to sources, Amazon Corporate Holdings and Amazon.com.incs Ltd, are pumping INR 3,400 crore into marketplace unit Amazon Seller Services, INR 900 crore into payments arm Amazon Pay (India), and INR 172.5 crore into food retail business Amazon Retail India.

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.

The sources added that the resolution was passed by the board of directors of Amazon Seller Services on October 14, 2019.

The infusing comes days after the DPIIT (Department for Promotion of Industry and Internal Trade) has reportedly sought a list of the top five sellers from Amazon and Flipkart.

For details: DPIIT seeks list of top five sellers from Amazon, Flipkart

According to sources, in 2012, the global ecommerce giant started off with INR 4.58 Cr investment and the number grew to INR 732.68 in 2014 and to INR 5,340 in 2016.

Amazon has claimed to have doubled the presence of its Delivery Service Partner network with more than 1400 delivery stations, which are present in over 750 cities.

The global ecommerce company Amazon also talked about developing its Line haul network, under which close to 10,000 delivery trucks are on the road each day.

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

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