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Bezos of Amazon says will put $3 billion more in India
Written By Tejal Yerunkar
Published: | Updated:
Speaking at a US-India Business Council (USIBC) event in Washington, DC on Tuesday in the presence of Prime Minister Narendra Modi, Bezos said that Amazon sees "huge potential in the Indian economy."
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Jeff Bezos, Founder and Chief Executive, Amazon.com Inc. Image Source:Reuters/Gary Cameron
Jeff Bezos, chief executive of Amazon said that the e-commerce major will pump in an additional $3 billion in India. The company, in 2014, committed $2 billion investments in the Indian market.
“Our Amazon.in team is surpassing even our most ambitious planned milestones, and I’m pleased to announce today that we’ll invest an additional $3 billion on top of the $2 billion that we announced in 2014, bringing our total investment in India to over $5 billion,” Bezos said.
Speaking at a US-India Business Council (USIBC) event in Washington, DC, on Tuesday in the presence of Prime Minister Narendra Modi, Bezos said that Amazon sees "huge potential in the Indian economy."
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Amazon operates on a marketplace model in India and sells only goods offered through its website by third parties. It competes with local e-commerce player like Flipkart and Snapdeal.
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