FDI Will Revitalise Indian Online Retail Market: Amazon
Advertisement
Advertisement
Popular global e-tailer On the sidelines of the
Amazon is betting big on the country’s e-commerce sector as it has announced investment of $2 billion to expand its operations in India.
Currently, foreign direct investment norms in India do not allow FDI in e-commerce. Most e-tailers like Flipkart and Snapdeal, including Amazon, follow the online marketplace model, where they connect sellers and buyers.
Amazon, which launched its marketplace in India last year, counts India among its fastest growing markets. The online retailer also announced that it is on track to touch $1 billion in gross sales in the country.
Advertisement
In India, Amazon sells over 17 million products across categories like books, apparel and electronics from a growing base of thousands of small and medium-sized businesses. In addition to this, the company also plans to open five new centres across India along with its two fulfilment centres (FCs) in Mumbai and Bangalore.
(Image:
Advertisement
- Thailand is now welcoming Indians with open arms, but are its drought-hit islands really prepared for a tourism influx?
- Thoughtful gift ideas to make Mother's Day extra special
- Muslims up, Hindus down: What’s the larger picture behind India’s religious population trends?
- Scooch over magic mushrooms, toad venom could be the next big psychedelic for depression and anxiety!
- TBO Tek IPO allotment – How to check allotment, GMP, listing date and more