Amazon Invests $260 Million In Amazon India

Amazon has invested another 260 million US dollars in its Indian business, as it looks to further its success in the country. The extra cash for Amazon India comes just before the country's biggest holiday shopping season around Diwali in the Autumn, and just after Amazon's rival, Flipkart, raised an extra 1.5 billion US dollars investment. Amazon India has also just run its first Prime Day in the country on July 10th, to match up with the same event in other markets. The company's CEO Jeff Bezos has also promised an investment in India of 5 billion US dollars. Meanwhile, India continues to be the world's fastest growing ecommerce market, with a growth rate of around 31% each year.