Ecommerce giant, Amazon India, is categorical that the $1 billion investment announced by Jeff Bezos during his recent trip to India would be used for long-term development of its operations and not for deep discounting or cover losses.
“A lot of our investment is focused on the long-term and if we only look at the short-term, we would not be doing the right thing for the country. We have been able to build over 50 world-class, multi-million dollar fulfillment centers. We have enabled 8 lakh artisans and weavers by partnering with 15 plus states and central government and 2.8 lakh women entrepreneurs by partnering with institutions like SEWA,” Gopal Pillai, VP - seller services, Amazon India told ET Digital. “We would not be able to do this if we are just focused on the short-term. We are putting a lot of investment today, so that it can be beneficial 5-10 years down the line.”
Source: Economic Times