Amazon likely to ramp up investments in India, despite drag on profits
Amazon has committed to investing at least $5 billion in India over the next few years. Photo: Ramesh Pathania/Mint
Bengaluru: Amazon.com Inc. has indicated it would keep pumping money into India although its investments in the country crimped profitability at the world’s largest online retailer for the second quarter in a row.
Amazon’s chief financial officer Brian Olsavsky said in a conference call with analysts on Thursday that the e-commerce giant was encouraged by its progress in India and the response it has received from consumers. He acknowledged that the investment in India continues to be large.
Credit: livemint.com