. 24/7 Space News .
INTERNET SPACE
Amazon's Jeff Bezos bets on India with $3 bn investment
by Staff Writers
New Delhi (AFP) June 8, 2016


Amazon chief executive Jeff Bezos has pledged to invest $3 billion in India, in a big bet on the growth of online shopping in the fast-growing South Asian economy.

Speaking in Washington DC as India's Prime Minister Narendra Modi visits the United States, Bezos told a gathering of business leaders that he saw "huge potential" in India.

The investment, announced Tuesday, comes on top of $2 billion Amazon invested in India in 2014, and will boost Modi's campaign to attract foreign cash to create much-needed jobs.

"We have already created some 45,000 jobs in India and continue to see huge potential in the Indian economy," Bezos said at the US-India Business Council meeting, according to a statement from the group.

"Our Amazon.in team is surpassing even our most ambitious planned milestones," he said.

Amazon has made steady inroads in India since entering the cut-throat, rapidly growing e-commerce market in 2013.

But it faces stiff competition from local rivals Snapdeal and Flipkart, which have attracted billions of dollars in overseas investment.

E-retailers in India, including Amazon, typically adopt a "marketplace" structure, acting as technological platforms that connect buyers and sellers rather than stocking their own products.

The government in March set new rules for foreign investment in online marketplaces, including allowing up to 100 percent foreign ownership.

India's e-commerce market was worth about $23 billion in 2015, according to business body Assocham.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Satellite-based Internet technologies






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
INTERNET SPACE
Faster Internet: Surface plasmons could lead the way
Leiden, Netherlands (UPI) Jun 3, 2016
Researchers in the Netherlands are studying surface plasmons in search of a fiber-optic breakthrough to pave the way for faster Internet technologies. Most of the main drags that make up the Internet's information superhighway are fiber-optic cables. The network is littered with speed bumps. Flashes of information-carrying light must be converted to electrical signals and travel across ... read more


INTERNET SPACE
Airbus Defence and Space to guide lunar lander to the Moon

A new, water-logged history of the Moon

Russian Firm Develops Project of Reusable Spacecraft for Lunar Missions

SwRI scientists discover fresh lunar craters

INTERNET SPACE
Red and Golden Planets at Opposition

Opportunity investigating soil exposed by rover wheel

Mars makes closest approach to Earth in 11 years

SwRI scientists discover evidence of ice age at Martian north pole

INTERNET SPACE
India Presses Ahead With Space Ambitions

Fun LoL to Teach Machines How to Learn More Efficiently

International Partners Provide Science Satellites for first SLS mission

'Metabolomics: You Are What You Eat' video

INTERNET SPACE
Bolivia to pay back loan to China for Tupac Katari satellite

NASA Chief: Congress Should Revise US-China Space Cooperation Law

Chine's satellite industry eyes global satellite market

China launches new satellite for civilian hi-res mapping

INTERNET SPACE
BEAM Leak Checks Before Crew Enters Next Week

HERA Mission 10 Crew to "Splashdown" on Wednesday

One Carbon Metabolism on the Space Station

Zuckerberg streams live chat with men in space

INTERNET SPACE
EchoStar XVIII and BRIsat are installed on Arianespace's Ariane 5

SpaceX makes fourth successful rocket landing

Arianespace to supply payload dispenser systems for OneWeb constellation

UK's First Spaceport Could Be Beside the Sea

INTERNET SPACE
Astronomers find giant planet around very young star

Planet 1,200 Light-Years Away Is Good Prospect for a Habitable World

Kepler-223 System Offers Clues to Planetary Migration

Star Has Four Mini-Neptunes Orbiting in Lock Step

INTERNET SPACE
3D printing opens door to rapid advances in membrane technology

Airbus presents 3D-printed mini aircraft

Highly tuned catalytic controls

A protective shield against the heavy metal uranium









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.