Amazon’s answer to Flipkart’s funding, to invest $2bn in India

The completion gets fierce! Just a day after India’s largest online store Flipkart announced that it raised fresh funding worth USD 1 billion, its biggest competitor in the country, Amazon which entered India last June only, has announced that it will invest an USD 2 billion “to support its rapid growth and continue to enhance the customer and seller experience in India.”

Amazon is giving tough fight to Flipkart by announcing huge discount, next-day delivery, offering new products and spending huge on advertisement budget.

In a Press Release Founder and CEO of Amazon.com Jeff Bezos said, “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 USD 2 billion, our team can continue to think big, innovate, and raise the bar for customers in India.”

“At current scale and growth rates, India is on track to be our fastest country ever to a billion dollars in gross sales,” Bezos added.

On Tuesday Flipkart said in a statement that the $1 billion fresh fund “will be used to make long-term strategic investments in India, especially in mobile technology.”

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