The Company Will Continue To Invest In India, Says Amazon Inc
As per the company's earnings statement, the company has raised its pledge to enable $20 billion in cumulative exports by 2025 in India
Amazon Inc has said that the company will continue to invest in India and also said that it is still early in many of its international businesses. The company made this announcement during its earnings call.
"I think it is important to remember, it's early in many of our international countries, particularly in some of our emerging or more recent launch countries, places like India, Brazil and Middle East. In our emerging locations, there is a healthy amount of investment we have done to drive expansion and we expect to continue to do that given the strong competition across many of these markets," said Dave Fildes, director of investor relations at Amazon.
As per the company's earnings statement, the company has raised its pledge to enable $20 billion in cumulative exports by 2025 in India and Indian exporters are on track to surpass $5 billion in cumulative exports.
"Since launching 2015, Amazon's Global selling program has grown to more than one lakh exporters that are showcasing millions of made of India products to customers worldwide through Amazon's store," the company said in a statement.
"Despite continued inflationary pressures in fuel, energy and transportation costs. We are making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfillment network," said Andy Jassy, CEO, Amazon, in a statement.