Amazon reportedly bolstering its investment in India
Amazon is upping the ante when it comes to competing in India.
The online giant is stepping to up its investment in India by $2 billion, according to CNBC affiliate CNBC TV-18.
This capital is in addition to the $5 billion the company previously committed to operating in the emerging market, which is estimated to be worth $16 billion, according to the report.
The investment comes a month after Walmart gained a majority stake in Indian e-commerce retailer Flipkart — and beating out Amazon’s bid for the company.
To read more, click here.
The online giant is stepping to up its investment in India by $2 billion, according to CNBC affiliate CNBC TV-18.
This capital is in addition to the $5 billion the company previously committed to operating in the emerging market, which is estimated to be worth $16 billion, according to the report.
The investment comes a month after Walmart gained a majority stake in Indian e-commerce retailer Flipkart — and beating out Amazon’s bid for the company.
To read more, click here.