Indian ecommerce war just got fiercer. Global ecommerce giant, Amazon has recently flushed in another Rs 1,680 crore in its Indian unit as part of its plan to invest a whopping $5 billion into expanding its local business in India. The advancement was discovered in regulatory documents filed by Amazon Seller Services Pvt. Ltd (Amazon India) with the ministry of corporate affairs last month.
The funding comes in at a time when the Indian ecommerce market is getting ready for the massive holding season in the fall, centring around the big Indian festivals of Dusshera and Diwali.
Indian homegrown ecommerce giant Flipkart, which is currently locked in in a fierce battle from US ecommerce biggie Amazon had recently raised a whopping $71 million from South African technology investor Naspers, which took its stake in the company to 16.5 per cent (Read Here).
The year is witnessing a fierce battle between Amazon and Flipkart for acquiring a major share in the Indian ecommerce market. Although Amazon is full-blown into investment streak in India, the currently reigning champion Flipkart is also not far behind as the Tiger Global-backed company raised a whopping a whopping US $ 1.4 billion earlier this year. This is in addition to the $71 million from Naspers. According to sources close to both the companies, both the e-commerce players will be aggressively investing in strengthening their operations in the country and in wooing Indian customers their way with jaw-dropping offers.
The global ecommerce leader Amazon first invested $2 billion into Amazon India three years ago in 2014 and unveiled Amazon Prime last year in the South Asian country. In fact, Amazon's India unit is scheduled to run its first ever Prime Day on July 10.
While China and the U.S. are considered among the largest e-commerce markets in the world, but the Indian ecommerce market is the fastest-growing one, with online retail sales expected to cross $64 billion by the year 2021.
The funding comes in at a time when the Indian ecommerce market is getting ready for the massive holding season in the fall, centring around the big Indian festivals of Dusshera and Diwali.
Indian homegrown ecommerce giant Flipkart, which is currently locked in in a fierce battle from US ecommerce biggie Amazon had recently raised a whopping $71 million from South African technology investor Naspers, which took its stake in the company to 16.5 per cent (Read Here).
The year is witnessing a fierce battle between Amazon and Flipkart for acquiring a major share in the Indian ecommerce market. Although Amazon is full-blown into investment streak in India, the currently reigning champion Flipkart is also not far behind as the Tiger Global-backed company raised a whopping a whopping US $ 1.4 billion earlier this year. This is in addition to the $71 million from Naspers. According to sources close to both the companies, both the e-commerce players will be aggressively investing in strengthening their operations in the country and in wooing Indian customers their way with jaw-dropping offers.
The global ecommerce leader Amazon first invested $2 billion into Amazon India three years ago in 2014 and unveiled Amazon Prime last year in the South Asian country. In fact, Amazon's India unit is scheduled to run its first ever Prime Day on July 10.
While China and the U.S. are considered among the largest e-commerce markets in the world, but the Indian ecommerce market is the fastest-growing one, with online retail sales expected to cross $64 billion by the year 2021.
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