Amazon to keep investing in Indian tech, infra: Jeff Bezos
Global e-commerce major Amazon will keep investing in the Indian market to strengthen technology and infrastructure as it looks to overtake local rival Flipkart. The US-based company has already committed investments to the tune of $5 billion in India.
"Our India team is moving fast and delivering for customers and sellers... It's still day 1 for e-commerce in India, and I assure you that we'll keep investing in technology and infrastructure," Amazon founder and CEO Jeff Bezos said in a statement.
The world's second richest man also highlighted that "Amazon.in is the most visited and the fastest growing marketplace in India."
Amazon, which entered India in 2013, has been locked in an intense battle with Tiger Global-backed Flipkart for leadership in the Indian market. The comments assume significance as Amazon has seen losses in the international business pile up nearly four-fold to $481 million, primarily due to high spending in India.
Amazon has been aggressively investing in setting up fulfilment centres across the country to ensure speedy delivery to consumers.
It currently has 34 such warehouses across 10 Indian states. With Flipkart's recent fund raise of $1.4 billion from Tencent, Microsoft and eBay, the competition is set to intensify further in the coming days.