Amidst the fierce competition among e-commerce players, Amazon has taken a major step and now plans to invest Rs 16,000 crore which exceeds its commitment of $2 billion made in July 2014 by CEO Jeff Bezos.
Amazon Seller Services increased its authorized capital from Rs 8,500 crore in February to Rs 16,000 crore, which is double the amount.
The firm has already invested roughly around Rs 10,730 crore in Amazon Seller Services which will be utilized for discounts, advertising, hiring leading to customer acquisition.
Investment in its logistics arm Amazon Transportation and Cloudtail India, has not been disclosed.
The massive investments, indicates Amazon’s high interest in acquiring the Indian market especially after losing China market to Alibaba.