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Report: Amazon injects more funds in India operations

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Report: Amazon injects more funds in India operations

Amazon.com Inc. has invested another about 16.20 billion rupees in Amazon Seller Services Pvt. Ltd., or Amazon India Ltd., as part of its strategy to capture the country's e-commerce market, The Times of India reported Oct. 16, citing regulatory filings.

Amazon's Singapore and Mauritius divisions injected the capital into the local arm of the online retailer in September, the newspaper reported.

Amazon has already invested $2 billion in its Indian operations and has increased the commitment to $5 billion.

It is competing with local rival Flipkart India Pte. Ltd.

As of Oct 16, US$1 is equivalent to 64.71 Indian rupees.