E-commerce behemoth Amazon has injected Rs 1,600 crore into its Indian subsidiary, Amazon Seller Services, as revealed by a regulatory filing.
This investment aligns with the projected growth trajectory of India's e-commerce sector, anticipated to reach USD 200-230 billion by 2030, with a steady annual rise of 20-22 per cent.
According to Amazon's filing in the US, "The Board is hereby accorded for allotment of 1,66,00,00,000 (One hundred sixty-six crore) equity shares of Rs 10 each aggregating to Rs 16,60,00,00,000 (One thousand six hundred sixty crore) to the existing shareholders on right basis."
This marks the second instance this year where the e-commerce titan has infused funds into Amazon Seller Services. Earlier in February, the US-based parent company allocated Rs 830 crore into its Indian entity.
In a parallel development, Walmart, another major player in the e-commerce arena, recently injected USD 600 million into its domestic competitor, Flipkart.
The competition in India's e-commerce landscape has intensified, driven by the country's robust economic growth. By 2030, India is poised to witness an influx of nearly 210 million new shoppers, augmenting the existing user base of 240 million individuals. Notably, a significant portion of these new users is expected to hail from tier 2 cities and beyond, as per insights from market research firm Redseer.
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