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Report: Amazon spending $300M to develop Indian video content

is planning tospend up to $300 million on original Indian contentas it prepares to launch its over-the-top service Amazon Prime Video in Indialater this year, Factor Daily reported July 18, citing people with knowledge ofthe matter.

The companyis reportedly in talks with local studios as well as independent directors andproducers to develop movies and series. Balaji Telefilms and Yash RajProductions are among the Indian production houses currently taking part in thediscussions, the sources said.

The $300 million marked for streaming content is part ofAmazon's $3 billion investmentin India.