Sun, 09-Aug-2020
Wednesday 08 Jul 2020 , 11:16 am

Amazon India’s Unit Gets $308 Million in Fresh Funds from Parent

As India went into lockdown, Amazon encouraged small shops to join as sellers on its platform in a bid to boost local businesses and expand its reach.
By SIN Bureau
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Amazon.com Inc has invested 23.10 billion rupees ($308.02 million) in Amazon Seller Services, an Indian unit, strengthening the business at a time when more people shop online in a bid to avoid crowded public places.

The Amazon's campus in Hyderabad, India
The company’s largest campus outside of the US was inaugurated in Hyderabad, India (Source: Wikipedia)

Amazon Singapore made a significant portion of financing, data from business intelligence firm Tofler showed.

The company’s Indian arm in May said it would hire 50,000 temporary workers to meet a surge in online shopping in the country.

The company, which competes with Walmart Inc’s Flipkart in India, has also been expanding its seller network in the country.

Indian laws allow foreign e-commerce companies to operate as “market places,” connecting buyers with sellers online.

As India went into lockdown, Amazon encouraged small shops to join as sellers on its platform in a bid to boost local businesses and expand its reach.

Jeff Bezos-led e-commerce company in January announced a $1 billion investment to bring more than 10 million small businesses online in India by 2025.

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Neha Mule

Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.

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