Amazon.com Inc. plans to invest an additional $3 billion into India, which is emerging as a critical area of growth for the e-commerce giant.
Chief Executive Jeff Bezos announced the plan at a meeting of business leaders Tuesday with the Indian Prime Minister Narendra Modi in Washington. Amazon sees “huge potential in the Indian economy,” Mr. Bezos said in a statement.
The announcement brings Amazon’s total planned investment in India to $5 billion, since it announced a $2 billion infusion in 2014. An Amazon spokesman declined to provide details such as how the new funds would be allocated or over what period.
Amazon operates a pure marketplace in India, due to local rules, selling only goods offered through its website by third parties. It nonetheless has warehouse and delivery technologies there that are particularly attuned to the local market, where internet connectivity can be spotty or nonexistent and many consumers don’t have credit cards.
Source: Amazon Plans $3 Billion Investment in India – India Real Time – WSJ
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