The CEO of Amazon India, Amit Agarwal, has been inducted into Jeff Bezos’ leadership team or S-team as it is called, in what is being seen as a sign of the success that the company has enjoyed in India.
According to the Times of India, Bezos sent out an email to his team which read: “Please join me in welcoming Amit to S-team. Amit and our India team are doing remarkable things. Amit and his experience in India will be a key resource for all of us on S-team as we work to figure out what it is to be a true global company.”
With Agarwal at the helm, Amazon India has scaled heights in India that no other e-commerce website based in another country has managed. The e-commerce portal has captured a significant share of one of the most important emerging markets of the world in less than three years.
The company says that India is fast becoming the second biggest market for Amazon, after the US. Amazon released a statement last year which read that the company expects India to overtake Japan, Germany and the UK to become its largest overseas market in the next few years. In 2014, Bezos had pledged a $2 billion investment in India, riding high on this sentiment.
According to the Times of India: In December 2015, Amazon issued advertisements in leading newspapers in India saying Amazon.in had become the most visited e-commerce site in India. The claim was backed with data from ComScore that showed Amazon had seen 30 million unique visitors in October, ahead of rivals Flipkart (around 27 million), Jabong (around 21 million), and Snapdeal (around 18 million).
Amazon India’s business volume grew by 500 per cent in the third quarter of 2015 mainly because of its consumer-focused approach to business. Amazon India also has the largest stock among Indian e-commerce players – 40 million products – with per day addition of 55,000 products. Out of these, a million products are available for next-day delivery.
Since there is no dearth of fresh capital, Amazon India intends to plow ahead, till competition like Flipkart runs out of steam.
The company has 21 fulfillment centres across 10 states in India covering a total of over 2 million square-feet of space. It has over 1 lakh sellers on its platform, and over 65 per cent of orders come from non-metro cities.