Amazon Invests $23 Million Into India Wholesale Unit

amazon Inc., the world’s largest online retailer, has pumped in $23 million into its Indian wholesale arm, which runs the company’s b2b portal, and also supplies products like smartphones to merchants on its online marketplace.

Amazon’s investment comes at a time when Alibaba is aggressively targeting the Indian B2B market. According to a Walmart report in 2014, India’s B2B e-commerce industry is expected to be larger than B2C market and it will grow to $700 billion by 2020 from $300 billion in that year.

In September, the company had invested Rs 115 Crore into the wholesale unit, which currently serves SMBs in Bangalore and Mangalore. It registered annual sales of $1Bn in 2015.

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