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Amazon invests Rs 375 crore in its Indian logistics arm

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The Economic Times
23rd June, 2022 19:54 IST

Ecommerce major Amazon has invested Rs 375 crore in its Indian logistics arm Amazon Transportation Services, according to filings sourced from Tofler.

The cash infusion took place on June 16 through Amazon's entities in Singapore and Mauritius -- Amazon Corporate Holding Private Limited and Limited.

The investment comes at a time when Amazon is focussing on bringing more local sellers to its marketplace. Amazon India country manager Manish Tiwary told ET on June 15 that the company would need "a couple of million more sellers" to attract 500 million more customers.

Amazon India currently has 1.1 million sellers on its platform. Its total user base is more than 100 million.

Last month, Amazon launched Smart Commerce, an initiative that will help offline stores set up their own digital storefronts, in addition to selling on its India marketplace. This is similar to what Canada-based Shopify does. Amazon will enable these stores to sell on its marketplace and other platforms.

Through Smart Commerce, Amazon said stores of any size can now tap Amazon’s expertise in shopping, logistics, digital payments, and other areas to serve their consumers better, both digitally and in physical stores.

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