Amazon injects more Rs 1,620cr in marketplace

Konga

The battle for the ecommerce space in India is intensifying as Amazon has injected around about Rs 1,620cr into its Seller Services, which runs the e-commerce giant’s Indian marketplace, according to latest regulatory filings.

Documents filed with the Registrar of Companies (RoC) show Amazon Singapore and Amazon Mauritius pumped the fresh capital into the local arm of the e-tailing major last month, Times of India reports.

It is looking to outpace homegrown rival Flipkart, having increased its capital commitment to USD5 billion for India, and invested over USD2 billion in its Indian operations. Over the last few weeks, these two companies have been involved in a price war in a bid to emerge as the winner during the sale season

Reports say Amazon is investing aggressively in categories like fashion, where the Flipkart group has a majority share, in addition to grocery, FMCG and other new categories.

The company also recently introduces its popular subscription service Prime here last year with its major focus on expanding the base of users. The company had earlier announced that it was days away from doubling its annual Prime subscription price to Rs 999 per year, and it hopes to make it a cheaper market than the US.

“We remain committed to our India business with a long-term perspective to make e-commerce a habit for Indian customers and to invest in the necessary technology and infrastructure to grow the entire ecosystem,” an Amazon India spokesperson said.