Published
Jul 8, 2020
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Amazon pumps in Rs 2,310 crore into its India unit

Published
Jul 8, 2020

US-based e-commerce major Amazon has infused fresh funds of Rs 2,310 crore ($308.7 million) into one of its India units, Amazon Seller Services.
 

Amazon pumps in Rs 2,310 crore into its India unit - Archiv


Amazon Corporate Holdings and Amazon.com.inc have made the Rs 2,310 crore investments in the unit, PTI reported citing documents filed with the corporate affairs ministry.
 
The company did not immediately clarify where or how the money would be used. However, the fresh funds are expected to give Amazon India a boost amid the Covid-19 disruptions.

Amazon will likely use the funds in infrastructure and technology expansion, as it looks to keep its recent promise of creating one million new jobs in India through investments in infrastructure, technology, and logistics.
 
Earlier this year, Amazon had invested over Rs 2,500 crore into two of its Indian businesses, Amazon Seller Services, and Amazon Data Services India.
 
Amazon CEO Jeff Bezos, during his last visit to India, had said that the company would invest $1 billion to bring small businesses online in the country, adding to the $5.5 billion the company had committed since 2014.

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