PM Modi wins Jeff Bezos’ assurance: Amazon will keep investing in India

Always impressed, energised by optimism and invention in India. Excited to keep investing: Bezos

US online retail giant Amazon would keep investing and growing in India, founder and CEO Jeff Bezos said in Washington DC on Sunday, soon after his meeting with Prime Minister Narendra Modi.

“Terrific meeting with Narendra Modi. Always impressed, energised by optimism and invention in India. Excited to keep investing and growing,” Bezos said on social networking platform Twitter.

Bezos was one of the 20-odd US business leaders who met Modi on Sunday. Among other big names were Google CEO Sundar Pichai, Microsoft CEO Satya Nadella and Apple CEO Tim Cook. All four US technology giants have been vying to grow their businesses in India, the last large open market in the world.

Bezos’ indication that Amazon’s investments in India will keep rolling comes at a time when the company has completed four years of doing business here and has cornered a sizeable chunk of the e-commerce market. The firm has committed to investing $5 billion in the country, and says half its investments have so far gone into building infrastructure.

Company News : Amit Agarwal, Amazon vice-president & country manager for India, has said the country’s e-commerce market is still in its infancy and it will take a lot more investment, not just from his company but from all players, to grow in the coming years. His thoughts reflect Bezos’ own philosophy that Amazon is still playing in the “Day 1” of e-commerce.

“We don’t really hold ourselves back based on a targeted investment. We will require a lot of investment, as will Indian e-commerce. It is still very early and we should be ready to invest for many years,” Agarwal had told Business Standard in a recent interview. Read more

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