Amazon India has got another $200 million to take over the competitor portals in the country. In the latest revelation by filings with the RoC (Registrar of Companies in India), it was revealed that the Indian unit has just got another INR 1350 crores in March 2016. The transaction came into place, just a few weeks before the government out vendor related restrictions for discounting and promotions on the eCommerce portals across the country.
Amazon has been pretty aggressive about its approach in India. The fact became evident when the eCommerce and tech giant doubled its authorized capital for Indian operations to $2.4 Billion. The amount did exceed the commitment Amazon had made in 2014 for Indian unit.
According to a report by Goldman Sachs, Indian eCommerce market is set to cross $100 billion worth by 2020 and the companies are just trying their luck to remain on the top. Amazon is one of the prime players in the country and it is leaving no stone un-turned to compete with the local players like flipkart and amazon. With the latest investment, the total amount invested in Indian unit since 2015 reaches to $1.2 Billion.