Amazon is doubling down — even more than that, actually — in India.
Reuters reported Tuesday evening that Amazon will invest an additional $3 billion in its India operations, which is on top of the $2 billion already invested. That means the company is putting $5 billion toward its India business.
It’s another sign of Amazon’s commitment in India, which is arguably the company’s most important overseas opportunity. Earlier this year, Forbes ran a cover story — which got the magazine in hot water over an illustration of Jeff Bezos — reporting that Amazon “predicts that India will be its biggest market after the U.S. within a decade and that the Indian e-commerce market as a whole will ultimately be gigantic.”
Indian customers seem to like Amazon, too. A survey in March revealed that consumers in the world’s second-most popular country trust Amazon’s brand more than any other web retailer. Amazon competes with India-based e-commerce companies like Flipkart and Snapdeal.