India to be backed by $3 billion Investment from Amazon
Amazon’s love for India!
The Good News
Recently, Amazon’s CEO Jeff Bezos announces that its online retail company will fund $3 billion to India as it competes with Snapdeal and Flipkart. The good news was declared in the presence of PM Narendra Modi at the US-India Business Council’s 41st Annual Leadership Summit in Washington DC. Apart from Bezos, other top business leaders were also present at the summit. Earlier in July 2014, the giant had made an investment of $2 billion in India. With all this, the total investment from Amazon comes to $5 billion.
Words of Wisdom from Jeff Bezos
In a press release from the U.S.-India Business Council, Bezos said Amazon “has already created some 45,000 jobs in India and continue[s] to see huge potential in the Indian economy.”
In the event, Jeff Bezos along with the top-notch Indian entrepreneur Dilip Shanghvi, Founder and MD of Sun Pharmaceuticals were presented the USIBC’s Global Leadership Award by India’s PM Narendra Modi. Both the leaders were honored for their contributions and commitment to integrating India into the global economy.
According to the reports by Morgan Stanley, India’s e-commerce market is now the fastest-growing in the world and is expected to be worth $119 billion by 2020.
- Amazon funds India $3 billion to compete with Snapdeal and Flipkart.
- Earlier in July 2014, the giant had made an investment of $2 billion in India.
- With all this, the total investment from Amazon comes to $5 billion.