Amazon India slashes costs, discounts to battle losses and turn profitable by 2019
Since Amazon CEO Jeff Bezos made that initial $2 billion investment commitment in July 2014, Amazon India has already received more than Rs15,000 crore ($2.31 billion).
The initiative involves cutting packaging costs, introducing more automation in warehouses and delivering products more efficiently. Amazon India’s loss soared to Rs3,572 crore in the year ended 31 March 2016 from Rs1,724 crore in the previous year. In 2014-15, Amazon had reported a sixfold jump in sales to Rs1,022 crore even as losses soared to Rs 1,723.6 crore.