US online retail giant Amazon Inc has invested US$ 386 million (nearly Rs. 2700 crores) earlier this month in the midst of an ongoing online retail battle between Amazon and Flipkart. The largest online retailer in the world has now invested approximately US$ 4 billion since it started its operation in India.
After the announcement of Walmart’s acquisition of Flipkart, Amazon has increased its spendings in order to overtake Flipkart, who is still at first place in the online marketplace in India. Amazon US has infused US$ 386 million in the Amazon Seller Services, which is a marketplace arm of Amazon India. As per now, Amazon has spent most of its money in building warehouses, in logistic units and marketing, promotional activities and product assortment.
Amazon committed to investing US$ 2 billion in India when it arrived in 2014 and then announced to increase the investment to US$ 5 billion in July 2016. Amazon is also committed into establishing its food retail business in India with a separate allotment of additional US$ 500 million.