Amazon FDI request gets GOI approval
Advertisement
Highlights
- The Indian government today approved an Amazon request to setup a wholly owned subsidiary in India
The Indian government today approved an Amazon request to setup a wholly owned subsidiary in India. In a request filed with GOI, Amazon Asia-Pacific Resources Pvt. Ltd., Singapore had requested permission to "set up a Wholly Owned Subsidiary to undertake the business of online market place operator and retailer inter-alia courier services". According to a press release issued by the Government, Amazon plans to invest Rs. 15 crores for setting up its operations.
The approval comes days after Amazon entered the Indian market with Junglee.com. While Junglee.com launched as a price comparison site-cum-marketplace, this approval could pave the wave for Amazon to setup its own fulfillment centers in India.
Amazon is the world's largest online retail company with over 30 million customers across 9 countries and over $48 billion in 2011 reveune.
The approval comes days after Amazon entered the Indian market with Junglee.com. While Junglee.com launched as a price comparison site-cum-marketplace, this approval could pave the wave for Amazon to setup its own fulfillment centers in India.
Amazon is the world's largest online retail company with over 30 million customers across 9 countries and over $48 billion in 2011 reveune.
For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.
Advertisement