Amazon pumps record capital into india to catch up with Flipkart

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The Hush Post: Amazon has pumped record capital of Rs 1,950 crore into its main India unit this financial year, in an effort to give stiff competition to its larger domestic rival Flipkart. Amazon Seller Services has received Rs 8,150 crore, or about $1.3 billion, so far in 2017-18 from its US parent, as per filings submitted with the Registrar of Companies. The latest capital infusion is the fourth, since Flipkart raised $4 billion (about Rs 25,380 crore) around the middle of last year. Amazon’s previous highest annual capital infusion into its India marketplace was Rs 7,463 crore in 2015-16, when it was taking away market share from Snapdeal, as per media reports. In 2016-17, that number plunged to Rs 2,010 crore. “We remain committed to our India business with a long term perspective to make ecommerce a habit for Indian customers and to invest in the necessary technology and infrastructure to grow the entire ecosystem,” a spokesperson for Amazon India said in an emailed statement.

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