Bezos of Amazon says will put $3 billion more in India

Jeff Bezos, chief executive of Amazon said that the e-commerce major will pump in an additional $3 billion in India. The company, in 2014, committed $2 billion investments in the Indian market. 

“Our Amazon.in team is surpassing even our most ambitious planned milestones, and I’m pleased to announce today that we’ll invest an additional $3 billion on top of the $2 billion that we announced in 2014, bringing our total investment in India to over $5 billion,” Bezos said. 

Speaking at a US-India Business Council (USIBC) event in Washington, DC, on Tuesday in the presence of Prime Minister Narendra Modi, Bezos said that Amazon sees "huge potential in the Indian economy." 

Amazon operates on a marketplace model in India and sells only goods offered through its website by third parties. It competes with local e-commerce player like Flipkart and Snapdeal.