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Amazon invests Rs.2310 crores in India:
Amazon, an online selling company, amid the lockdown,
is investing Rs.2310 crores investment in Amazon Seller Services India,
strengthening the business at a time when people are afraid to shop offline and
are comfortable more into safe and hygiene shopping via online.
A major portion of the amount has been funded by
Amazon Singapore as per the Business Intelligence firm, Toffler. The company’s
Indian unit in May said that they would hire 50,000 temporary employees to meet
the requirements of consumers in India at the time of crisis.
Amazon, Flipkart's rivalry has been expanding its
seller network a lot in the past few years. As per Amazon India, Rs.355 crores
will be put into the Amazon Data and Web Services as a huge number of consumers
are moving to their OTT Platform and using their web services.
They have also been working on Amazon Pay UPI for
their consumers to use it as an online transaction platform. Indian laws allow
foreign e-commerce companies to operate as "market places,"
connecting buyers with sellers online.
Amid the time of lockdown, Amazon is encouraging small
scale shops to join with them as sellers on their platform to boost their
businesses.Jeff Bezos, Amazon’s founder, and CEO had announced a 1 Billion-Dollar Investment in January to bring up 10 million more small scale
businesses online in India by 2025. In the past years, Amazon has invested 5.5
Billion Dollars as India is the biggest market for them outside of America.
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