Jan 15, 2020
Amazon in India: Jeff Bezos announces $1bn Indian investment
Amazon boss Jeff Bezos has announced a major investment in India, saying the country is a key growth market. They allege Amazon is driving them out of business by offering sharply discounted products and favouring a few big sellers on its platform. He also said the online retail giant expects to export $10bn worth of India-made goods by 2025, and that Amazon has already committed to $5.5bn of investment in the country. India's e-commerce market is currently dominated by Amazon and Flipkart, which is owned by US retail giant Walmart. Earlier this month a conglomerate run by Asia's richest man has started a service that aims to compete with Amazon in India.
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