Amazon invests Rs 11,400 cr in India in FY20

U.S e-commerce giant Amazon has pumped in over Rs 11,400 crore (about USD 1.5 billion) during FY2019-20 across its marketplace, payments and wholesale business units in India to bolster its position in the country's burgeoning digital commerce market.

The investments have been made even though most of the Amazon's business units in India registered losses during the fiscal.

Data analysis from regulatory filings by various Amazon entities showed that Amazon Seller Services, Amazon Wholesale (India), Amazon Pay (India) and Amazon Transportation Services saw their losses adding up to Rs 7,899 crore in FY20 as against a loss of Rs 7,014.5 crore in the preceding fiscal.

Amazon Seller Services, Amazon Wholesale (India), Amazon Pay (India) and Amazon Transportation Services had registered losses in FY20 at Rs 5,849.2 crore, Rs 133.2 crore, Rs 1,868.5 crore and Rs 48.1 crore, respectively.

Amazon Internet Services, which had clocked a net profit of Rs 71.1 crore in FY19, slipped into the red with a loss of Rs 20 lakh in FY20, the data showed.

The e-commerce giant, which has been investing millions of dollars towards promotions, building infrastructure and logistics as it woos customers to shop online, has seen its losses mount on account of higher expenses.

 

Asianet.in/NewsDesk: Asianet Online