AMAZON, the world’s largest Internet company by revenue and market capitalization has invested Rs 341 crore in Amazon Wholesale India , the Whole Sale B2B arm of Amazon India.
This huge amount of investment of Rs 341 crore to Amazon Wholesale India is done by its parent company in order to expand its services to multiple cities in the country and also , to receive back a tremendous as well as an outstanding response, overall.
According to people aware of the company’s plan, a major chunk of the investment will be utilized to build infrastructure for this business.
The transaction was made in the month of May through Singapore-based -Amazon Corporate Holdings Pvt , Ltd.
When contacted , an Amazon India spokesperson said: “We are relentlessly focused on expanding our selection and raising the standards for customer experience and online shopping in India.”
This will help to widen the market and make it much easier to discover virtually anything wanted to buy online, the spokesperson added.
Amazon.business deals widely with small offices, entrepreneurs, department stores, Kirana stores, drug stores, clinics , food and much more.It also acts as a distribution and marketing partner for leading smartphone brands like Honor , OnePlus , Xolo , Coolpad ,Huawei . “These brands are investing heavily in India to sell more. So this business has become significant now,” a person said.
There’s also a news that the company has made an additional investment of Rs 1680 crore in its Indian unit as it looks forward to hitting the highest rank in E-Commerce.“Amazon will invest $3 billion more in India. This is in addition to the $2 billion announced in 2014. We have already created some 45,000 jobs in India and continue to see huge potential in the Indian economy,” Bezos had said at the annual gala of US-India Business Council (USIBC) in June last year.
Last Year, the Company came up with six fulfillment centers in Chennai, Mumbai, Delhi And Jaipur To Expand its Services.