From CNET: As Indians increasingly move to e-commerce to do their shopping, Amazon is giving domestic companies a big reason to worry.
Company CEO Jeff Bezos on Tuesday announced that his company will be investing an additional $3 billion in India. This takes Amazon's total investment in the country to $5 billion.
India's e-commerce space continues to grow, and is estimated by Morgan Stanley Research to be worth $119 billion by 2020. Bezos said that Amazon India's performance is "surpassing even our most ambitious planned milestones."
The announcement was made at an event in Washington that was also attended by Indian Prime Minister Narendra Modi. Bezos said that Amazon would open a Web Services Cloud Region in India this year, and also setup its largest software engineering and development centre in Hyderabad. This follows similar moves made by Apple in the country.
View: Article @ Source Site
