02 Apr 2019
Amazon has pumped further funding into its grocery business in India in an effort to enhance its inventory and tackle competition in the country.
Amazon.com in the US and Amazon Corporate Holdings, the Singapore-based holding entity, transferred a total of Rs 240 core (or nearly $35m) in funds to the India business in order to advance in key areas – according to company filings shared by Paper.vc, a business intelligence platform.
As The Drum reports, Amazon has previously injected millions into Amazon Retail India in an attempt to battle competition, while also having committed to investments in the country.
Prime online grocery brands in India link to major tech and retail investment, causing enhanced competition. Walmart had acquired stakes in Flipkart, while Alibaba invested in Big Basket and Softbank in Grofers.
However, strict regulation targeting e-commerce brands could impact the industry’s growth in India.