Amazon Backs Its India Store with $2B Investment
Not to be outdone by Flipkart, the largest e-commerce site in India, and its $1 billion investment in its retail site, Amazon has announced its own $2 billion backing of its Amazon.in marketplace, only one day after Flipkart announced its round of funding.
According to Amazon’s CEO Jeff Bezos, India stands to be its fastest growing marketplace, and the first of its retail markets to produce one billion dollars in sales. Given the population within the country, the abundance of tablets due to strong education initiatives in mobile technology, and the fact that English is one of its official languages, this comes as very little surprise.
While Flipkart has claimed the status of India’s largest e-commerce site with 22 million users making five million shipped purchases per month, Amazon has already refuted that claim. Despite the US-based retailer’s standard operating procedure of not disclosing any specific sales data, Amazon claims to retail more than 17 million different products within its Indian website.
While both Flipkart and Amazon.in are talking and investing in terms of more than just books, this focus on the market means a great deal for self-published authors. With constraints on international book rights in place, even many traditionally published authors don’t find their titles available in every market. But thanks to both Amazon’s KDP platform and self-publishing/ebook distribution site Smashwords, indie authors can list their ebooks in both the Amazon.in Kindle store and Flipkart’s ebook store, due to Smashwords’ agreement with Flipkart.
Authors who don’t take the steps to list their titles with these two options are missing out on a significant number of English-speaking readers who already have a history of online purchasing, have the devices on which to read ebooks, and may already be clamoring for ebook content.