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Amazon's Jeff Bezos in India to unveil $2 billion investment
Updated : Mar 19, 2018, 05:24 AM IST
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Jeff Bezos was seen carrying a cheque for $2 billion at a road show in Bangalore.The founder of Amazon is on his second visit to India.
With competition heating up in the e-commerce space in India, Amazon is upping his ante as it competes with Flipkart and Snapdeal for market share.
In recent months, Amazon and Flipkart have also started offering customers same day delivery.
After Flipkart announced its $1 billion funding in July, Amazon said it would invest $2 billion for its India operations.
In a press release from the company, Bezos was quoted as saying "After our first year in business, the response from customers and small and medium-sized businesses in India has far surpassed our expectations. We see huge potential in the Indian economy and for the growth of e-commerce in India. With this additional investment of $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India."
Also Read: E-commerce war heats up: After Flipkart, Amazon announces $2 billion investment in India
