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Amazon India gets Rs 2.2 k crore infusion

This is the firm’s fourth infusion in Indian business this year.

, ET Bureau|
Dec 05, 2018, 08.50 AM IST
BENGALURU: Amazon India has received Rs 2,200 crore, the fourth tranche of capital infusion this year, bringing its total funding so far closer to the $5 billion (Rs 35,255 crore) that founder Jeff Bezos committed for the business in 2016. Total funding received so far was Rs 27,290 crore. The Rs 9,450 crore invested in 2018 also marks the largest amount of capital infusion in its India unit in a calendar year for Amazon.

Amazon Seller Services, the marketplace business of the Seattle-based company, received Rs 2,700 crore in August, Rs 2,600 crore in May and Rs 1,950 crore in January. The latest tranche came from Singapore-based Amazon Corporate Holdings and Mauritiusbased on November 19, regulatory filings showed. The investments were made in a year that saw Walmart acquire a 77% stake in local rival Flipkart for $16 billion.

India is the most important market for Amazon outside the US, and developments in the country can affect its global performance, as indicated by the company’s chief financial officer Brian T Olsavsky, who cited a late Diwali this year for slower Q3 international growth. Amazon is set to reach $11.2 billion in GMV in FY19.

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