Amazon pumps in over Rs 1,700 cr into India

STATEMENT COMES WHEN CCI IS TO PROBE AMAZON, FLIPKART OVER ALLEGED CCI VIOLATIONS

E-commerce giant Amazon has pumped in over Rs 1,700 crore into its payments and wholesale business units in India, as per regulatory documents.

Amazon Pay India has received Rs 1,355 crore from Amazon Corporate Holdings Pvt Ltd and Amazon.com.incs. Limited, regulatory documents filed with the corporate affairs ministry showed.

The digital payment unit allotted shares to the said units on December 31, 2019, the documents sourced by business intelligence platform Tofler, said.

Amazon Wholesale (India) Pvt Ltd allotted shares worth about Rs 360 crore on December 30 to Amazon

Corporate Holdings Pvt Ltd and Amazon.com.incs. Limited, a separate filing showed.

Emails sent to Amazon India on the fund infusion did not elicit a response.

Amazon CEO Jeff Bezos is scheduled to visit India this week, meeting top government functionaries, business leaders and SMBs. Thousands of smallscale traders' union under Confederation of All India Traders (CAIT) are planning to hold protests around the country during Bezos' stay in India.

Also, India's antitrust body Competition Commission of India on Monday ordered an investigation into alleged violations of competition laws by Amazon and Walmart-owned Flipkart.

Amazon and rival Flipkart have been pumping in millions of dollars across various operations like marketplace, infrastructure and supply chain management as well as marketing and promotion as they look to strengthen their position in the fledgling Indian e-commerce market.