Amazon Targets India Growth With $3 Billion Investment Boost
Source: Bloomberg
Amazon.com Inc. will invest $3 billion more to build its business in India, stepping up its bet that the country will become a major online-shopping market that will fuel sales growth.
The latest commitment, unveiled by Chief Executive Officer Jeff Bezos at the U.S.-India Business Council’s Leadership Summit in Washington, more than doubles Amazon’s total pledged investment since 2014 to $5 billion.
Amazon has targeted India for international growth after pulling back from China due to fierce competition from that country’s e-commerce giant Alibaba Group Holding Ltd. In addition to seeking new customers, Amazon is also looking in India for new inventory to sell globally. Amazon, which gets most of its international revenue from the U.K., Japan and Germany, doesn’t break out sales from India. Revenue from a group of other international markets, including India, reached $7.4 billion in 2015, or 6.9 percent of total sales.
“The added investment reflects the success to-date of Amazon in India, as well as a bright outlook for the e-commerce market in the region,” said Colin Sebastian, an analyst at Robert W. Baird & Co. “It’s really down to a two or maybe three-horse race, and Amazon clearly would like to be the winner.”
(snip)
India’s Modi met with President Barack Obama Tuesday and will address a joint meeting of Congress this week.
Read more: http://www.bloomberg.com/news/articles/2016-06-08/amazon-to-invest-additional-3-billion-in-india-ceo-bezos-says
India’s Modi met with President Barack Obama Tuesday and will address a joint meeting of Congress this week.
Nice
PM Narendra Modi travels to DC, meets with Obama and leaves with a check for 5 billion Bezos dollars in his pocket
How many more customer call centers does the world really need?
And Gov Brown gets pissed when Perry poaches a few California businesses for Texas.
At least they're still in this country.
= new reply since forum marked as read
not long ago that India used to have a law that placed limits on how large a business there could be in order to prevent a lot of consolidation from killing off a lot of small businesses. Maybe it was Bill Maher that mentioned it. That's obviously not the case anymore if Amazon is moving in big time. Sounded kind of interesting.
