Amazon Inc is adding more muscle to its Indian subsidiary, Amazon Seller Services Pvt. Ltd. It has made a fresh investment of $306.3 million (Rs 1,950 crore) through its Singapore arm, Amazon Corporate Holdings. This information has been derived from the filings the company has made with the government.
Amazon has reiterated its commitment to the Indian market in general and the ecommerce ecosystem in particular. They have added that their investments in the country are meant to beef up the technology and infrastructure in the country.
This comes just two months after Amazon had pumped in Rs 2,900 crore ($446 million) into its Indian arm, one of the single largest tranches in terms of funding seen in the country. The company, Amazon Seller Services, has also raised its authorized share capital to a whopping Rs 31,000 crore ($4.7 billion).
With over 250, 000 registered sellers on its platform, the Indian arm of Amazon might be its largest ecommerce network the company enjoys.
Observers recall that Amazonâ€™s founder Jeff Bezos had indicted in 2015 itself that he is committed to making investments in India to the extent of $5 billion and though that figure might not have been reached yet, they seem to be headed towards that. As and when that target investment gets made leaving the Indian venture, with a capital of $4.7 billion, might make it one of the largest in India, just behind Reliance Jio which boasts of a capital infusion of Rs 61,000 crore. Amazonâ€™s capital is already ahead of ventures like Vodafone Mobile, Delhi Metro Rail Corporation, Tata Teleservices and L&T Metro Rail.
To place this further in perspective, some of the Indian ventures that have raised huge funding resources include Flipkart that has got $6 billion, Ola at $3.3 billion and Paytm at $2.2 billion.