Amazon invests $631 million in India business
Nabanita Dutta
News Editor
Image Credit: shortpedia
Amazon Inc has invested $631 million in its Indian units. This step came after its rival Flipkart applied for a license to set up a new local entity farmermart. Amazon is investing in Amazon seller services, Amazon pay and Amazon retail. However, how the fund will be utilized by the subsidiary is not clear. The poor performance of its payment business needs to improve to be able to compete with Paytm, Google pay or PhonePe.
