Amazon today announced that it will invest an additional $2 billion to support its rapid growth and continue to enhance the customer and seller experience in India. The online marketplace that was launched in India just about a year ago, has grown exponentially with over 17 million products from a continually growing base of thousands of small and medium-sized businesses
“After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations,” said Jeff Bezos, founder and CEO of Amazon.com. “We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India. At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales.”
A large base of small and medium-sized businesses are already benefiting from Amazon’s investment in its ‘Fulfillment by Amazon’ offering. Also, the company’s guaranteed next-day delivery on more than 300,000 products is a huge hit with the customers.