Amazon plans USD 2 billion investment in India
Posted on Jul 30 2014 | IANS
New Delhi, July 30 : Amazon plans to invest an additional USD 2 billion in India to support its rapid growth and continue to enhance the customer and seller experience in the country, a company statement said here Wednesday.
"We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of USD 2 billion, our team can continue to think big, innovate, and raise the bar for customers in India. At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales," said Jeff Bezos, founder and chief executive officer of Amazon.com.
He added: "After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations."
Earlier this week, Amazon Seller Services India said the company plans to open five more fulfillment centres (FCs) - warehouses - in Delhi, Chennai, Jaipur, Ahmedabad and Tauru (on the outskirts of Gurgaon).
With the additional storage capacity and its two existing FCs on the outskirts of Mumbai and Bangalore, Amazon has almost doubled its total storage capacity to over half a million square feet, offering fulfillment services to thousands of retailers and small and medium businesses (SMBs) across the country, the company said.