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Report: Amazon invests another 27B rupees in India


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Report: Amazon invests another 27B rupees in India Inc. has invested another 27 billion rupees in its Indian arm, taking the Seattle-based e-commerce giant's total investment in the country to over $1 billion since January, the Economic Times of India reported Aug. 14.

The latest investment follows a 26 billion-rupee capital infusion in May, according to the report.

The report added that, according to filings, Amazon also invested 1 billion rupees into its food retail business. The Wall Street Journal in March reported that Amazon had committed $500 million in investment for its grocery service in India.

In July, India's Amazon Pay also received 2.3 billion rupees in funding from Amazon, which reportedly has committed to investing $5 billion in the Indian market.

As of Aug. 14, US$1 was equivalent to 70.02 Indian rupees.