July 30 Amazon.com Inc will invest an
added $2 billion in India as the e-commerce giant ramps up
business in the country, the company said on Wednesday, a day
after local rival Flipkart announced a fresh round of funding
worth $1 billion.
"With this additional investment of $2 billion, our team can
continue to think big, innovate, and raise the bar for customers
in India. At current scale and growth rates, India is on track
to be our fastest country ever to a billion dollars in gross
sales," Chief Executive Jeff Bezos said in a statement.
Amazon's Indian unit said earlier it will open five new
warehouses in the country, which will almost double its storage
capacity to half a million square feet -- all steps to help the
company gain a better foothold in India's growing e-commerce
(Reporting by Nivedita Bhattacharjee in Mumbai; Editing by