Ahead of festive season, Amazon infuses Rs 1,125 crore into India marketplace business
The e-commerce battle ahead of Diwali, Dussehra and other festivals is also heating up this year because of Reliance Jio, which has been scaling its JioMart e-commerce platform rapidly since its launch during the lockdown in April.
September 29, 2020 / 02:09 PM IST
Ahead of the festive season which is expected to boost economic sentiment, online retailer Amazon has pumped in Rs 1,125 crore into its India marketplace business, according to regulatory filings.
Amazon has invested the money into Amazon Seller Services, which runs the India marketplace business. However, the money has been routed through two of its foreign units- Amazon Corporate Holdings in Singapore, and Amazon.com Inc Limited in Mauritius, according to filings accessed via Tofler
Earlier this week Amazon also said it has ramped up its delivery network in anticipation of high demand during the festive season.
It has added close to 200 delivery stations, including those operated by delivery service partners across the country, including in remote northeastern towns such as Champhai, Kolasib, Lumding and Mokokchung.
Amazon India has close to 250 Amazon-operated and more than 1,500 partner delivery stations run by more than 280 people across the country to enable deliveries across the country.
This is also in line with e-commerce companies generally ramping up delivery infrastructure and raising funds from off-shore units to be sufficiently funded and efficient during the festive season.The e-commerce battle ahead of Diwali, Dussehra and other festivals is also heating up this year because of Reliance Jio, which has been scaling its JioMart e-commerce platform rapidly since its launch during the lockdown in April.
Disclaimer: “Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.”