Being optimistic of stumbling online marketplace Flipkart from its leadership position in India, eCommerce giant, Amazon has invested Rs 2010 crore (US$296 million) in its Indian unit.
Regulatory filings show that the move takes Amazon’s total capital investment in India to more than Rs 7000 crore in the past one year.
According to Amazon’s spokeswomen, Amazon will invest what it takes to become customers’ preferred choice in India, and is confident that it is India’s largest and fastest-growing eCommerce marketplace.
Amazon entered India three years ago, introducing some of its global programs this year including its Prime service, which offers quicker deliveries and early-access deals.
As per The Economic Time report, Amazon is estimated to have spent more than Rs 1000 crore last month to persuade customers with special offers and discounts for the festive season, and is losing about Rs 600 crore every month.
Last week, it announced Prime Video services for India offering Hollywood and other international movies and TV shows – plus launching nine original Indian shows, making it the largest Indian original line-up on an OTT (over-the-top) platform.
Earlier this month Amazon announced the launch in India of its global program for start-up products, Launchpad, and in October it launched Global Store, offering products from its US online store that are not available in India.