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Amazon Founder Jeff Bezos to Visit India in Jan, Likely to Meet PM

Jeff Bezos said that Amazon is doing “extremely well” in India, while expressing hope for regulatory stability.

Published
India
1 min read
Jeff Bezos.
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E-commerce giant Amazon founder and CEO Jeff Bezos will visit India in January 2020, when he is likely to meet Prime Minister, reported The Economic Times on Tuesday, 19 November.

He is expected to kick off the US retailer’s annual event around small and medium enterprises during this visit, the report said.

On 18 November, Bezos said that Amazon is doing “extremely well” in India, while expressing hope for regulatory stability in the country.

"Regulatory stability is the thing that we would always hope for India. Whatever the regulations are ... they are stable in time and that's one of the things we're hoping will now be true. We'll see," Bezos, 55, told reporters on the sidelines of his induction into the National Portrait Gallery in Washington.

His remarks came in response to a question on Amazon's concerns over some Indian policies with regard to digitisation.

The US-based company is pumping in over Rs 4,400 crore (more than USD 600 million) into its various units in India, including marketplace and food retail, to provide them more ammunition to compete against arch-rival Flipkart.

Amazon, which is locked in a battle against Flipkart, had registered cumulative losses of over Rs 7,000 crore across various units in 2018-19.

Bezos had committed investment worth USD 5 billion in the Indian market in 2016.

(With inputs from PTI)

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