New Delhi: Going aggressive on Indian e-commerce space, online retail giant Amazon has announced that it will invest an additional $2 billion in the Indian market. The announcement comes a day after Flipkart announced it had raised $1 billion in funding, the biggest ever by an e-commerce Internet company.
“After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations,” Jeff Bezos, founder and CEO of Amazon.com, said in a press statement.
“We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of US $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. A big ‘thank you' to our customers in India – we've never seen anything like this."
Amazon currently deals in categories such as apparels, books, eBooks & tablets; movies & tv shows; kindle devices, computers & accessories; mobiles & accessories; consumer electronics; toys etc, and has been giving a tough fight to Flipkart in categories like tablets and cameras.