Amazon is set to invest $2bn in India
July 31 , 2014
Online retailer Amazon is set to invest another $2bn to boost its Indian operations, according to media reports.
Chief executive Jeff Bezos said the company saw “huge potential” in the Indian economy and for e-commerce growth in the country.
Amazon’s announcement came a day after Flipkart, India’s largest e-commerce company, raised $1bn in fresh funding, a record for an Indian internet firm.
Though India's total e-commerce market was worth $13bn in 2013, 70% transactions were linked to online travel.