Amazon.com, the world’s largest online retailer, has pumped in another Rs.1,980 crore into its Indian business.
Amazon Seller Services Pvt. Ltd, the Indian unit of Amazon, received Rs.1,980 crore last week, the single largest infusion of funds received by the company since 2014, according to documents filed with the Registrar of Companies. This follows another fund infusion of Rs.1,696 crore in December.
Amazon India has now received Rs.7,679 crore since July 2014, when CEO Jeff Bezos promised to invest $2 billion in India.
Since launching in India in June 2013, Amazon has applied its mantra of low product prices, wide product selection and fast and reliable delivery to gain popularity with shoppers.