The US based Amazon Inc’s Indian business has increase four folds in 2015 in comparison to the previous years. The reason for the same is that the customers and sellers have increased by around three folds. Apart from this, there has been a similar surge in the fulfillment capacity because the online shopping has gained momentum in India.
Brian Olsavsky, the Chief Financial Officer of Amazon stated that active customer accounts have increased by 230% year-over-year. He also stated that the number of sellers has increased by 250% year-over-year and that of sales has quadrupled this year. Right now, they are amidst the Diwali season that is doing well. This is the first time that Amazon has revealed the numbers publicly.
Amazon India, the largest consumer marketplace across the globe has been adding 40,000 products per day in 2015. Also, 90 percent of the sellers are making use of its logistics and warehousing services. Eventually, their fulfillment capacity has increased year-over-year.
Last month, Amazon injected a sum of Rs 1,237 crore into its Indian arm, which is the largest capital infusion into Amazon India since it started its operations here in 2013. It makes sense as India one of its fast growing markets outside the United States. The company’s Founder, Jeff Bezos pledged an investment of $2 billion for the local operations. This number is likely to increase its growth is faster than expected, revealed an Amazon official. Undoubtedly, this might happen quite soon as the company’s growth is immense.
Amazon is expecting its business in India to overtake the ones in Germany, Japan and the UK. This way, India will become the largest overseas market for the company. It is expecting to reach $10 billion GMV (gross merchandise value) in India, claimed Diego Piacentini, the Senior Vice President at Amazon’s International Business.
