Published
Oct 27, 2017
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Amazon to double investments in India, scale up digital payments & Prime membership

Published
Oct 27, 2017

Amazon India has said that it will continue to infuse money into the Indian market with a core focus on enhancing consumer experience, digital payments and Prime membership program, said Amazon India chief Amit Agarwal.
 

The Seattle-based firm is now looking to further invest in its 'Pay' service and e-commerce website for the benefits of its sellers and consumers on the platform


Amazon’s founder and CEO Jeff Bezos $5 billion commitment made to the Indian market has been spent aggressively by the company to scale up its business across all verticals
 
More than $2 billion has already been invested into the Indian market by Amazon. The company recently pumped in Rs 260 crore (approx $39 million) in its online payments platform Amazon Pay service and Rs 1,620 crore (approx $249.1 million) in marketplace entity.

The Seattle-based firm is now looking to further invest in its 'Pay' service and e-commerce website for the benefits of its sellers and consumers on the platform.
 
“I think our investments are still squarely in the same three areas—how do we add more selection, how do we make it easier for sellers to offer more competitive prices and how do we build for faster deliveries. I don’t think we do anything else,” Amazon India head Amit Agarwal told the newspaper Mint. “A layer on top of that is that we keep investing in Prime—so video, music, Echo, etc are our key areas.”
 
“(Payment) has been and always will be a big area of investment for us. We will launch UPI (soon) and it will be part of the Amazon Pay experience,” he added,
 
Amazon has already stated earlier that it will hike its Prime membership fees from the current Rs 499 to Rs 999 a year. The move is expected to generate heavy revenue to the company as Prime membership sales have been the bestselling product for Amazon India during all its major sale events.

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