Amazon.com, the world’s biggest online retailer, has decided to invest over $630 million into India. India in the last few years has been the e-commerce giant’s fastest-growing market.
Earlier this week, according to the filings made by the Amazon on Registrar of Companies, the company would invest the money to grow its retail, payment, and food sector, however, none of the company’s officials commented on the investment.
Jeff Bezos, the Founder, and CEO of Amazon stated that the company would invest over $5 billion it the Indian market. Bezos is very keen on the growth of Indian e-commerce where Amazon would be directly competing with Flipkart, a Walmart owned e-commerce company.
Amazon last year started offering its prime members with video streaming services in India.
Earlier this year in August, Amazon said in a report it would buy minority shares in Big Bazar, a food retailer in India.