NEW DELHI: A day after Flipkart announced raising $1 billion in funds, e-commerce giant Amazon on Wednesday said that it will invest an additional $2 billion in India to support its growth in the country. It has also launched a slew of customer service programmes, like next-day and same day delivery. These initiatives are bearing fruit with the company already catching up with the number two online retailer in the country, Snapdeal, in terms of sales.
Both Amazon and Snapdeal have sold about $600 million (about Rs 3,600 crore) worth of products this year and are targeting $1 billion or Rs 6,000 crore sales this fiscal. Flipkart, the market leader, reached that milestone last fiscal.
Amazon has scaled up rapidly in the country since its launch in June last year. It now sells over 17 million products across 28 categories and hosts about 8,500 merchants on its marketplace. The company has heavily invested in logistics and marketing. It has created a network of warehouses across the country and earlier this week announced opening of five more warehouses in cities like Delhi, Jaipur and Ahmedabad.
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