Jeff Bezos, The Founder and the CEO of Amazon recently announced the investment of $3 billion in its online retail Indian e-commerce site. The announcement regarding the investment came out in the US-India Business Council at the 41st Annual Leadership Summit, which was held in the Washington, D.C. Various business leaders and Jeff Bezos were part of the meet, where they met India’s Prime Minister Narendra Modi. This summit has boosted a commitment of about $5 billion of investment for the country.
Amazon has a wide scope for development in India and it tends to be the fastest growing region for Amazon. Mr. Jeff added “ I can assure you it’s only the beginning and as we say in Amazon, it’s only day one” with that he also mentioned that this investment would help India be the hub for all the innovations and digitization.
Then later in the press conference Jeff said that “Amazon has already created some 45,000 jobs in India and continues to see a huge potential in the Indian economy.” He also said that Amazon would soon open a Web Service Cloud Region in India which would help flourish the software engineering and development center in the country accelerating the country’s economy.
Amazon trembled and found it difficult to find its place in the China’s market, so now it see India as a big opportunity for success. Till now it was just checking with little investment to become a player in e- commerce, but now their investing plans makes it crystal clear that Bezos has an eye on the Indian market and customers, that’s probably makes Bezos say that, “Our Amazon.in team is surpassing even our most ambitious planned milestones, and I’m pleased to announce today that we’ll invest an additional US $3 billion on top of the $2 billion that we announced in 2014, bringing our total investment in India to over US $5 billion”.
According to the reports, it is revealed that Flipkart and Amazon have, however occupied a huge marketplace through its e- commerce site in the country. The comScore, which is considered to be a reliable ranking source reveals that Amazon in India had almost seen 30 million user traffic for Diwali holiday sale, which was highly visited in India during the year.
The business of Amazon in India is taken care by Amit Agarwal, who is known to work like a shadow of Bezos. He says that he has a soft corner for all the startup small entrepreneurs in the country. So they tend to expand the Amazon service which includes stuff like storage, packing, shipping, parking etc. Jeff Bezos has for Amazon has so far created 21 fulfillment centers with a storage space of about 5 million cubic feet.
The Indian market would now see a heated competition between the e- commerce sites in the country. As they have invested a huge amount of money a strong belief of success. The only thing that makes India weak is its commercial infrastructure and logistics. So they have to buck up to tighten the margin and offer the best service to the customer.