“We estimate that post this transaction, their total funds infused into Indian operations for 2020 have reached a little over $750 million. The company received $1.26 billion and $826 billion in FDI (foreign direct investment) in 2018 and 2019 respectively,” said an analyst at Paper.vc. “With the Diwali season around the corner and the retail battle heating up with Reliance’s entry, it is likely that they may make another infusion very soon,” he added.
This month, Amazon and private equity firm Samara Capital also jointly invested over Rs 275 crore in Witzig Advisory Services, holding firm of the More supermarket chain.
Amazon India is hosting its flagship sale event ‘Great Indian Festival’ and its rival is conducting Big Billion Days (BBD) next month to tap the festive season. The e-commerce festive sales could alone cross the $7-billion mark in the whole season.
Amazon has built significant augmentation in its delivery network. The company has added close to 200 delivery stations, including those operated by ‘delivery service partners’ across the country, to further its direct reach including Northeastern towns such as Champhai, Kolasib, Lumding and Mokokchung.
The firm has also strengthened its delivery programmes as well with its flagship ‘I Have Space’ (IHS) programme. It now comprises more than 28,000 neighbourhood stores and kiranas in close to 350 cities.