CURRENT AFFAIRS

Detailed explanation-1: -In December last year, Amazon invested Rs 2, 200 crore into its Indian entity. Online retail giant Amazon has stepped up its investment in India and pumped in Rs 2, 800 crore into its marketplace.

Detailed explanation-2: -In financial year 2022, Amazon Marketplace reported the highest revenue of 214.62 billion Indian rupees. This was an increase compared to the previous year. Amazon Internet reported a revenue of over 89 billion Indian rupees in during the same year.

Detailed explanation-3: -Market Share of Amazon Vs Flipkart Friends, if we talk about market share, then according to the latest data, Flipkart has a 40% market share in India, while Amazon has a 31% market share in India. On average, 5 lakh products are sold on Flipkart every day, while 4.30 lakh products are sold in India on Amazon.

Detailed explanation-4: -All of Amazon’s India-focused companies together have spent Rs 8, 546 crore as legal fees in the financial years 2018-19 and 2019-20. This is almost a fifth or 20 per cent of its two-year revenue of Rs 42, 085 crore, says data from the public account filings by the company in India.

Detailed explanation-5: -The biggest challenge for Amazon, however, has been regulatory headwinds, since many of the new ecommerce rules favour domestic companies, the report said.