Wednesday, July 30, 2014

Amazon to Invest $2 Billion in India - WSJ

Also see The New Bazaar: Online Shopping Catches On in India With Buyers and Global Investors (NYT)

"Amazon.com Inc. said Wednesday that it will invest $2 billion to expand in India as competition for customers heats up in the fast-growing, South Asian e-commerce market.

"We see huge potential in the Indian economy and for the growth of e-commerce in India," Jeff Bezos, founder and chief executive of Amazon said in a statement.

Investors have been pouring money into India's online retail market as e-commerce seems to at last be taking off in the country. Brokerage Nomura expects online retailing in India to grow 11-fold to $23 billion in the next four years."
Amazon to Invest $2 Billion in India - WSJ
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