Bezos promises $1 billion in bid to see off Indian e-commerce storm

Bezos promises $1 billion in bid to see off Indian e-commerce stormAmazon tycoon Jeff Bezos promised Wednesday a new billion-dollar investment in India, just two days after authorities launched an anti-trust investigation into the e-commerce giant. A three-day visit by Bezos, whose worth has been estimated at more than $110 billion, sparked protests in New Delhi and other cities by traders who accuse Amazon and its main US-owned rival Flipkart of killing off India’s army of street traders. Bezos, who has spent heavily to make his company an e-commerce titan in the world’s second most-populous nation, sought to head off critics by promising one billion dollars to digitise small and medium-sized Indian businesses.


Read from Source