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Amazon.com Aims To Boost Spending Power In India By $3 Billion

June 7, 2016: 12:00 AM EST
Online retailer Amazon.com Inc. announced plans to invest $3 billion more in India. Amazon CEO Jeff Bezos revealed the investment plans during a meeting with India's Prime Minister Narendra Modi in Washington. In contrast with local online retailers that are finding it hard to raise cash, Amazon's announcement raises its total planned investment in India to $5 billion. India could be the next biggest e-commerce market; however, Amazon is facing serious competition from local online operators, including Flipkart Internet and Snapdeal.com. Also, the company is adapting its business operations to local conditions. For example, it is doing home delivery itself and operates more and smaller warehouses in the country.
Greg Bensinger, "Amazon Plans $3 Billion India Investment", The Wall Street Journal, June 07, 2016, © Dow Jones & Company, Inc.
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