New Delhi, May 14: E-commerce giant Amazon has pumped Rs 1,600 crore into its India arm, Amazon Seller Services, a regulatory filing by the company has shown. The investment comes as India’s e-commerce growth is expected to reach $200-230 billion by 2030, a steady 20-22 per cent rise.

According to Amazon’s filing in the US, “The Board is hereby accorded for allotment of 1,66,00,00,000 (One hundred sixty six crore) equity shares of Rs 10 each aggregating to Rs 16,60,00,00,000 (One thousand six hundred sixty crore) to the existing shareholders on right basis”. Zomato’s Shares Extended Its Morning Session Loss up to 5–6%, Company Expecting Increase in Cost Due to Employee Stock Ownership Plan.

This is the second time when the e-commerce giant has infused money into Amazon Seller Services this year. In February, the US-based parent company infused Rs 830 crore into its India entity. Recently, Walmart invested $600 million into homegrown rival Flipkart. Uber To Acquire Delivery Hero’s Foodpanda Business in Taiwan for USD 950 Million in Cash, Company To Focus on Other Market.

The e-commerce war in the country has intensified as India, a growing economy, is set to add a new user base of almost 210 million shoppers by 2030 from the current 240 million users. Most of these new users are expected to be from tier 2 and beyond cities, according to market research firm Redseer.

(The above story first appeared on LatestLY on May 14, 2024 04:09 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website