Amazon Reiterates Plans to ‘Double Down’ on India Operations

News Updates
Amazon became the highest valued e-commerce retailer according to market capitalisation, going past Wal-Mart and China’s Alibaba on Friday, a day after the company’s latest earnings call. Share prices of the e-commerce giant closed at $482.18, but rose 18 percent to a high of $571 during after-market hours, pushing Amazon’s estimated market capitalisation to $265 billion (roughly Rs.16,95,395 crores).

The 20-year-old e-commerce retailer reported a 20 percent increase in net sales in the second quarter, and $464 (Rs. 2,974 crores) million in operating income. Jeff Bezos, founder and CEO of Amazon.com, mentioned that the company continued to double down on its India operations.

“We continue to see very strong usage of growth that’s outpacing the revenue growth of 81 percent obviously.” said Brian T. Olsavsky – Senior Vice President and Chief Financial Officer during the earnings call, detailing plans to launch its cloud service business¬†Amazon Web Services (AWS) in India. Amazon CloudFront and Amazon Route 53 services are presently offered at AWS Edge Locations from Chennai and Mumbai in India.

Amazon lists over 25 million items, making it the largest online store in India, he added, while declining to get into specific investment levels. “India is a country that we’re doubling down on based on the success we’ve seen there so far. And so very happy with the trajectory we’re on there and excited to be investing and have the opportunities we do at that point.” he said.

Amazon India opened fulfilment centres in Kothur, Telangana and Ludhiana, Punjabin June, and now operates 12 fulfilment centres spread across nine states.

Amazon is reportedly readying a $5 billion war chest (roughly Rs. 3,206 crores) to fuel its expansion plans in India, having previously committed to invest $2 billion in 2014.

No Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

News Updates
How Agile Training Helps Software Development?

Developing the software is not something like go and do it. The software development undergoes several phases like analyzing the requirements of the software, designing the software, coding the program, testing, deployment, and maintenance. Software development is a series of phases involved. If you really want to make the software …

Gaming
Gaming is at the height of popularity with the PS4

Gaming is at the height of popularity with the PS4 and Switch doing record numbers. This year looks to be great for gamers with its incredible lineup of games. Here we look at the top 10 most exciting games that are coming in 2018. The games here are the ones …

Home improvement
Don’t Let a Plumbing Disaster Go Without Fixing for Too Long

When a plumbing disaster strikes your home, you have a number of ways that you could choose to respond. Perhaps the most likely one for some people is to make a snap decision whether this problem really needs fixing right away or whether it can wait. Let’s face it, income …