Amazon, Walmart to invest more than Rs 2,000 crore in India
Advertisement
Advertisement
Advertisement
The two of the world’s largest retailers are planning to gain a commanding position by building scale through deep discounting in the Indian retail market, which is expected to cross $1 Tn by 2020.
Amazon will inject Rs 1,696 crore through a rights issue into Amazon Seller Services, making it the biggest infusion of capital since entering the country three years ago. The board resolution to this effect was filed with the Registrar of Companies on Thursday. The investment takes Amazon's total investment in Amazon Seller Services in the past year to aboutRs 4,800 crore.
Walmart Stores will invest Rs 360 crore, it said in an RoC filing on Wednesday. It plans to open nearly 50 doors in India at a time when it plans to close nearly 270 stores globally.
India's
Advertisement
- RBI Governor Das discusses ways to scale up UPI ecosystem with stakeholders
- People find ChatGPT to have a better moral compass than real humans, study reveals
- TVS Motor Company net profit rises 15% to ₹387 crore in March quarter
- Canara Bank Q4 profit rises 18% to ₹3,757 crore
- Indegene IPO allotment – How to check allotment, GMP, listing date and more
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market