The US-based Amazon is investing over Rs 4,400 crore (more than $600 million) in various units in India including marketplace and food retail to provide them more ammunition to compete against arch-rival Flipkart. Amazon, which is locked in a battle against Flipkart, had registered cumulative losses of over Rs 7,000 crore across various units in 2018-19. Its founder and CEO Jeff Bezos had committed investment worth $5 billion in the Indian market in 2016. He now hopes for a regulatory stability in the country.
Amazon and rival Flipkart have been pumping in millions of dollars across various operations like marketplace, infrastructure and supply chain management as well as marketing and promotion as they look to strengthen their position in the Indian e-commerce market.