E-commerce large, Amazon, invested Rs 1,600 crore within the agency’s India enterprise, media experiences mentioned citing regulatory filings. This marks the second time the corporate has infused funds into Amazon Vendor Companies, it’s India arm, in a interval of 5 months. 

The event comes when the e-commerce trade is seeing main competitors amongst themselves to manage the market share in India, reported Moneycontrol. 

The regulatory filings of the agency revealed, “…hereby accorded for allotment of 1,66,00,00,000 (One Hundred Sixty Six Crore) fairness shares of INR 10/- (Rupees Ten Solely) every aggregating to INR 16,60,00,00,000/- (Rupees One Thousand Six Hundred Sixty Crore Solely) to the present shareholders on proper foundation (to Amazon Company Holdings Personal Restricted and Amazon.com.incs Restricted.” The filings have been dated April 15, 2024. 

Notably, Walmart not too long ago poured in $600 million into Flipkart, the agency’s direct rival to Amazon. The final fund infusion within the Indian enterprise of Amazon occurred in February this 12 months.

Elaborating on the agency’s plans forward, the report quoted Andy Jassy, CEO, Amazon, and mentioned that the corporate will make investments a surplus of $15 billion in India by the tip of the last decade. This can take the general funding dedication of the e-commerce large in India to $26 billion, together with the $12.7 billion promised by Amazon Net Companies (AWS) for funding in India by finish of 2030.

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Notably, Flipkart and Amazon are vying to seize the ever-growing market in India. Different e-commerce gamers like Meesho are additionally aiming for a share within the nation’s e-commerce market. Just lately, Amazon additionally launched Bazaar, which can give direct competitors to the Softbank-backed e-commerce platform, Meesho.

In response to a report by AllianceBernstein, launched earlier this 12 months, Flipkart emerged because the market chief in India within the 2022-23 fiscal 12 months (FY23), because it managed a 48 per cent share within the e-commerce phase within the nation. On the identical time, the report outlined Meesho because the quickest rising e-commerce platform within the nation.

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