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Amazon plans $3 billion investment in India

By TechTaffy Desk

Amazon is planning to invest $3 million in India, bringing the company’s total investment in the country to $5 billion to date. The announcement was made by Jeff Bezos, chief executive of the company at a meeting of business leaders with the Indian prime minister Narendra Modi in Washington on Tuesday.

Amazon partners with logistics service provider ConnectIndia in the country to appoint offline associates across retail points like kirana or local grocery stores, pharmacies, and mobile shopping outlets, armed with a PC-based website. The store owners are trained to help customers find and buy products of their choice, while earning a commission in the process. Amazon.in then delivers the products to the customer’s doorsteps or to ConnectIndia centers, and they pay in cash while receiving the packages.

The e-commerce market in India was worth roughly $23 billion in 2015, according to the Associated Chambers of Commerce and Industry of India. Players in the Indian e-commerce space like Flipkart or Snapdeal (as well as Amazon) act as a platform, facilitating connections between buyers and sellers.

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