Amazon Prime to launch in India as part of new $5 billion investment
The e-commerce war in India is set to get hotter, with Amazon planning on investing $5 billion in the Indian market. It plans to make the country the biggest market outside the US. Last year, CEO Jeff Bezos had visited India to announce $2 billion investment in its Indian operations.
The e-commerce company has used this to expand its network of warehouses and data centers to better compete against the likes of Flipkart and Snapdeal. Amazon is now set to use the $5 billion war chest to reportedly launch its Prime service, as well as the Amazon Instant Video (AIV), Economic Times reports.
Amazon Prime is currently only available in the US, wherein subscribers are entitled to free two-day shipping with no minimum order size, unlimited streaming of movies and videos on Amazon Instant Video, and a service called Kindle Owners Lending Library, wherein Kindle owners can borrow one free e-book from Amazon’s library.
This too is in line with earlier reports, which claimed that Amazon India planned to launch a music and movie streaming service. The company had appointed Nitesh Kripalani, former executive vice president at Multi Screen Media, which runs Sony Entertainment Channels, to get content for the services.