Amazon CEO Jeff Bezos announced on Tuesday that the online retailer is making a $3 billion investment in its Indian subsidiary. This new round of funding comes two years after Amazon announced plans to invest $2 billion in India — that brings the total investment to $5 billion dollars. The investment will allow the company to gain a stronger foothold in India. Amazon already faces tough competition from online retailers like Flipkart and Snapdeal in India. The timing of Amazon’s investment comes at an interesting time. Its competitors are said to have faced difficulty securing financing for growth.
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