Amazon pumps Rs. 2,200 cr in India operations.

Amazon India has received the fourth tranche of funding worth Rs. 2,200 crore this year, taking the total amount of funding to Rs. 9,450 crore in 2018. The total funding that Amazon Seller Services, the marketplace business of the company, has received since 2016 is Rs. 35,255 crore (about $5 billion). A Barclays report recently said that Amazon India has overtaken its competitor Flipkart in gross merchandise value (GMV). But a few days later, Barclays clarified that both the players are on a similar run rate of $11.2 billion in GMV for fiscal 2019. Reports suggest that Barclays did not take into account subsidiaries, Myntra and Jabong, while computing the GMV data.

HBL