During Narendra Modi’s recent visit to USA, Amazon’s CEO Jeff Bezos at an event in Washington said that the US based firm will infuse an additional amount of $3 billion in India, after it earlier committed to invest over $2 billion in 2014.
Jeff Bezos also added that India was Amazon's fastest growing region. The company will also open a Web Services Cloud Region in Hyderabad this year, which will be the firm's largest software engineering and development centre outside USA.
The boost in the investments, comes at a time when the other players are facing a tough time in raising cash and is restructuring its business models so as to reduce its high cash burn and also ensure sustainability.
The company is clearly desperate to win the Indian market which is crucial to the firm, after losing out in China to Alibaba. Amazon, launched in India in 2013 but has been growing rapidly and is now competing with the other leading e-commerce players including Flipkart and Snapdeal which started in 2007 and 2010 res> pectively.
"..As we say in Amazon, it’s only day one," - Jeff Bezos