Amazon to invest $2 billion more in India

Amazon.com Inc (AMZN.O) on Wednesday said it will invest a further $2 billion in India just a day after the country's largest e-tailer Flipkart attracted $1 billion of fresh funds, raising the stakes in a nascent but fast-growing e-commerce sector. Amazon, which opened its Indian website in June last year, has drawn up the battle lines by slashing prices, launching same-day delivery, adding new product categories and embarking on a high-voltage advertisement campaign. Amazon and Flipkart are joined in India's $13 billion e-commerce sector by marketplace Snapdeal, fashion e-tailer Jabong, and U.S. auctioneer eBay Inc (EBAY.O). "With this additional investment of $2 billion, our team can continue to think big, innovate, and raise the bar for customers in India," Chief Executive Jeff Bezos said in a statement.

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