Business Standard

Sunday, December 22, 2024 | 02:47 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Amazon infuses Rs 2,310 crore in India unit amid the Covid-19 pandemic

According to data analytics firm GlobalData, Covid-19 pandemic will accelerate the growth of India's e-commerce market taking it to about Rs 700,000 crore by 2023.

Amazon
Premium

The investment follows a cash infusion of Rs 2,208 crore in Amazon Seller Services and Rs 355 crore in Amazon Data Services India in February this year.

Peerzada Abrar Bengaluru
Amazon, the world’s biggest online retailer, has stepped up its investment in India and pumped in Rs 2,310 crore into its marketplace. The investment was made into Amazon Seller Services (Amazon.in), which runs a marketplace that assists sellers to sell their products online. The investment comes at a time when the Covid-19 pandemic has increased the demand for e-commerce services in the country. The new funding is coming through Amazon Corporate Holdings Private Limited, Singapore and Amazon .com Inc Limited, Mauritius in exchange for 231 crore equity shares, according to the financial data accessed by business intelligence platform, Tofler.

The

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in