![What The Future Holds For Amazon India](https://cdn.magzter.com/Business Today/1716461664/articles/vQMMVrD8m1716466716768/E-commerce.jpg)
IN MID-NOVEMBER LAST year, Manish Tiwary, Amazon India’s Country Manager, made a presentation to the parent company’s external board at its Seattle headquarters. Tiwary spoke not just about the opportunities in India but also about innovations on the customer and seller fronts and the vast talent pool. The board, which includes eminent names such as India-born Indra Nooyi, a former Chair and CEO of PepsiCo, looked pleased.
“There was palpable excitement,” Tiwary tells BT at Amazon India’s headquarters in Bengaluru. Turned out in a pair of jeans topped with a collared T-shirt and a blazer, he recalls how the discussion veered around, among other things, the work on Generative AI taking place out of India. “After Seattle, the largest talent pool for Amazon is in India,” he says.
Amazon has grown rapidly since launching its e-commerce business in India in 2013, although it was not the first player to enter the market. Six or seven players occupied the space, including Flipkart, its main rival today, which had a six-year head start.
From revenues of ₹112 crore in FY13, Amazon closed FY23 with ₹22,198 crore but with a loss of ₹4,854 crore, which is not unusual given how it invests in its operations. A recent report by financial services and research firm JM Financial estimates Amazon India’s gross merchandise value (GMV) was around $18 billion in FY23, compared with Flipkart’s $20 billion (excluding Myntra, its fashion e-commerce business). Last June, Amazon committed to investing $15 billion in India over the next seven years, bringing its total investment across its businesses to $26 billion.
この記事は Business Today India の June 09, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Business Today India の June 09, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
![Tech It Up A Notch](https://reseuro.magzter.com/100x125/articles/161/1739446/PzPHmrq5E1718971422876/crp_TECH-IT-UP-A-NOTCH.jpg)
Tech It Up A Notch
As Narendra Modi begins his third term as Prime Minister, India's tech landscape is on the cusp of transformation. From tightening data protection laws and boosting AI leadership-what's on the tech agenda?
![Adani's Solid Foundation](https://reseuro.magzter.com/100x125/articles/161/1739446/8RjE34PY11718967420079/crp_ADANIS-SOLID-FOUNDATION.jpg)
Adani's Solid Foundation
Group firm Ambuja Cements' buyout of Penna Cement will strengthen its position in the South and give it an opportunity to leverage the sea advantage
![24 Carat Magic](https://reseuro.magzter.com/100x125/articles/161/1739446/xl6G5jPBP1718975625875/crp_24-CARAT-MAGIC.jpg)
24 Carat Magic
Should You Ditch Stocks For Gold? It Is Advisable To Diversify Your Portfolio With Both. Consider Physical Gold, Etfs, And A Staggered Investing Approach For A Stronger Portfolio
![Game Time In Paris](https://reseuro.magzter.com/100x125/articles/161/1739446/NkLr_ooyR1718976053921/crp_GAME-TIME-IN-PARIS.jpg)
Game Time In Paris
As the City of Lights gears up for the largest sporting event in the world, we bring you a host of activities to enjoy in the French capital-your love for the Games notwithstanding
!["Try and try again till you succeed"](https://reseuro.magzter.com/100x125/articles/161/1739446/7Pds8juTQ1718976716074/TRY-AND-TRY-AGAIN-TILL-YOU-SUCCEED.jpg)
"Try and try again till you succeed"
NITESH MITTERSAIN | CEO, FOUNDER & JOINT MD | NAZARA TECHNOLOGIES
![PIECE BY PIECE](https://reseuro.magzter.com/100x125/articles/161/1739446/ybsVncBXJ1718976502867/PIECE-BY-PIECE.jpg)
PIECE BY PIECE
FOR NUPUR GARG, FOUNDER OF WINPE, THE SECRET HOBBY OF SOLVING LARGE JIGSAW PUZZLES IS A BRIDGE BETWEEN HER PROFESSIONAL LIFE AND HER PASTIME
![It's a Folded World](https://reseuro.magzter.com/100x125/articles/161/1739446/KrsBc4ah_1718976256043/ITS-A-FOLDED-WORLD.jpg)
It's a Folded World
FOLDABLE DEVICES MARRY PORTABILITY WITH CONVENIENCE. HERE ARE TWO FROM DIFFERENT FIELDS THAT COULD PROVE TO BE WORTHY COMPANIONS ON A DAILY BASIS
![HIGH STEAKS](https://reseuro.magzter.com/100x125/articles/161/1739446/EPnJeCMPw1718975073132/HIGH-STEAKS.jpg)
HIGH STEAKS
MEAT DELIVERY START-UP LICIOUS HAS ESTABLISHED A FOOTHOLD IN THE DIRECT-TO-CONSUMER SPACE. THE UNICORN HAS NOW SET ITS SIGHTS ON THE HIGHLY COMPETITIVE OFFLINE MARKET AS IT PURSUES THE NEXT ROUND OF GROWTH
![INDIA'S EASTERN COMPANY](https://reseuro.magzter.com/100x125/articles/161/1739446/vpBNzMV2L1718971956942/INDIAS-EASTERN-COMPANY.jpg)
INDIA'S EASTERN COMPANY
WITH THE SAARC MORIBUND NOW, THE INDIAN GOVERNMENT HAS RENEWED FOCUS ON THE 26-YEAR-OLD BIMSTEC GROUPING. ARMED WITH A NEW CHARTER, THE GROUPING IS LOOKING TO PARTNER WITH THE UN AND OTHER ORGANISATIONS TO DEVELOP THE BAY OF BENGAL REGION
![MAINTAINING MOMENTUM](https://reseuro.magzter.com/100x125/articles/161/1739446/IWbGWsNgY1718970922412/MAINTAINING-MOMENTUM.jpg)
MAINTAINING MOMENTUM
THE NDA IS EXPECTED TO GO FULL THROTTLE ON INFRASTRUCTURE DEVELOPMENT IN ITS THIRD TERM. CONTINUITY IN THE KEY MINISTRIES SHOWS THAT IT WANTS TO BUILD ON ITS EFFORTS OF THE LAST 10 YEARS