Bengaluru sources reported that Amazon said it will continue to invest in India as it sees "great progress" with both sellers and customers here even as the US e-tailing giant registered a loss of USD 622 million from international operations in the first quarter of 2018. Meanwhile the operating loss from the international operations, which also includes Indian market, was at USD 481 million in the year-ago period.
As per report the net sales in the international business however grew to USD 14.8 billion as compared to USD 11.06 billion. Meanwhile Amazon Senior VP and CFO Brian Olsavsky said in an investor call that "They will continue to invest in India where they are seeing great progress with both sellers and customers and they like the momentum they have seen there".
Furthermore Amazon has pumped in billions of dollars into its Indian
operations, where it is locked in an intense battle with local rival Flipkart.
Moreover Flipkart is said to be in discussion with Walmart with the US-based
company looking at picking up majority stake. As per the deal, if it goes
through, would unlock the booming Indian e-commerce market for the world's
largest offline retailer.
