Amazon steps up pace in India

09-Feb-2016 #Economy & Trade Source: India Inc
The world’s largest online retailer, Amazon, has invested another $291 million in its Indian wing to step up its expansion in the market. The latest funds injection is the second made by the company in less than two months as Amazon India said it was “very pleased” with the growth momentum in India. Funds will be used to beef up services for Amazon's merchants like warehousing, logistics and marketing. Amazon India is hoping to grab pole position in an industry expected to triple from $23 billion in 2016 to $68.8 billion by 2020, according to Goldman Sachs estimates. The company said that it has added over 55,000 products per day, grew its seller base by 250 per cent and expanded fulfilment infrastructure by 300 per cent in 2015.
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