+1-888-308-5802      . .

Amazon India now procures total cash infusion of USD 1 billion

Author : Saipriya Iyer | Published Date : 2018-08-15 

Amazon India now procures total cash infusion of USD 1 billion

Post having received an infusion of Rs 2,600 crore into the marketplace in May 2018, Amazon India recently announced the infusion of an additional Rs 2,700 crore by the parent firm. Post this move, Amazon’s overall infusion has successfully hit the $1 billion mark since the beginning of 2018.

Incidentally, the parent company has also injected Rs 100 crore into the food business – Amazon Retail. Amazon previously committed a total investment of $5 billion to capture the India market.

Business Today reports that the fresh capital is meant to beef up the war chest for Amazon which needs to compete against Flipkart, one of the Indian e-commerce market leaders that has fortified its business with a Walmart partnership. So far, the Seattle company has invested approximately $4 billion in its Indian operations.

Analysts have reportedly said that Amazon will be seeking to push its business aggressively during the Indian festive season in an effort to beat Flipkart in terms of market share. Recently released data indicates that Amazon had a market share of approximately 31% while Flipkart Group had a market share of over 39%.

The Seattle based company is also aiming to invest approximately $500 million in the food retail of Amazon India which is anticipated to be piloted in Pune. Analysts point out that though Amazon will be concentrating on driving the grocery market, the growth of the same is expected to be slow and the focus on electronics and fashion are predicted to keep Amazon’s customers from migrating to other platform in pursuit of these categories.

Experts claim that after Walmart, Amazon’s US-based rival announced the plan to acquire 77% stake in Flipkart, India’s largest online retailer, Amazon updated its risk factors concerning the competition in global markets. The online retail giant has been rapidly expanding the definition of retail as it has begun including physical, omni-channel and ecommerce, with its entrance to the food retail industry in India earlier in 2018.

About Author

Saipriya Iyer . .

Saipriya Iyer

Saipriya Iyer presently works as a content developer for fractovia.org. Having dabbled with the domain of content creation for nearly half a decade, she now boasts of an enviable portfolio, holding substantial experience in penning down pieces related to technology, finance, and a wide spectrum of other industry verticals. A qualified computer engineering graduate from the University of Pune, Saipriya can often be found leveraging her knowledge of software technology and electronics in her write-ups. She can be contacted at- [email protected] | https://twitter.com/saipriya_i

Related News

Hero MotoCorp under investigation by Ministry of Corporate Affairs

Hero MotoCorp under investigation by Ministry of Corporate Affairs

Published Date: 2023-06-16         Author: Saipriya Iyer

The Indian Ministry of Corporate Affairs has reportedly ordered a probe into Hero MotoCorp to examine its association with an external vendor regarding alleged fund diversion. The objective of the investigation, conducted in the "public interest," is to evaluate the Hero MotoCorp owners... Read More>>

UK: Residents receive bills of up to £49,000 after Ovo acquires SSE

UK: Residents receive bills of up to £49,000 after Ovo acquires SSE

Published Date: 2022-11-24         Author: Saipriya Iyer

Customers of Ovo, the energy supplier were reportedly left shocked when they received energy bills of up to £49,000, due to data errors that led to overinflated energy bills for some residents. Ovo accepted that some of its customers have been affected by erroneous meter readings, and it bl... Read More>>

Bob Iger returns to Disney as CEO less than a year post retirement

Bob Iger returns to Disney as CEO less than a year post retirement

Published Date: 2022-11-21         Author: Saipriya Iyer

Bob Iger, the ex-CEO of Walt Disney Co., is reportedly coming back to the mass media giant less than a year after his retirement. The surprise announcement comes at a time when Disney is struggling to earn profits from its streaming TV services. According to a statement released by Disney late Su... Read More>>

© 2024 Fractovia. All Rights Reserved