Contrary to the perception that the new FDI rules governing e-commerce sector would impact Amazon’s India operations, the online retailer said it was happy to see clarity in regulations and would invest more in the country.

“We’re happy to see the recent clarifications. We’re happy to operate in any regime and frankly more the clarity, the better,” said Phil Hardin, Head of Investor Relations at Amazon, in a call with investors.

Amazon said it plans to double its investments in the country this year. The investments from Amazon come at a time when domestic players such as Flipkart and Snapdeal are facing tough time raising fresh funds.

The Centre had recently spelt out new regulations that restrict e-commerce firms with FDI from giving out deep discounts to acquire more customers. Amazon, being an American firm, would come under the new regulation.

Brian Olsavsky, Chief Financial Officer at Amazon, during the investor call said, “We are solidifying and increasing our investments in India. It is really exciting times in the Indian market... We continue to build and make investments in India.”

The Seattle-based e-commerce company has stunned the stock markets by posting a stellar performance. The company has recorded a 28.2-per cent growth, to $29.13 billion, the biggest revenue growth since 2012. The growth came from its Amazon Web Services cloud computing division and also from its online business from North America and emerging markets such as India and Japan.

Praise for India

Olsavsky further added that the company is building a new campus in Hyderabad and that the Indian team is one of the company’s best so far. He praised the Indian team for certain innovations and inventions that, he said, couldn’t be found anywhere in the world.

Olsavsky reiterated founder Jeff Bezos’ thoughts, which he mentioned in a shareholder letter recently. Bezos had said the services and initiatives the company has build in India can be replicated globally. Olsavsky, who recently spent a week in India, said the company continues to invest on all fronts.

Referring to the marketplace model in India, where third-party sellers can sell to consumers on its platform, Bezos had said the company had launched initiatives such as Amazon Chai Cart and Amazon Tatkal — specific to the Indian market — to get more local sellers on board.

Amazon Tatkal, an initiative that enables small businesses to get online in less than 60 minutes, was launched less than a month back and has reached over 25 cities. Amazon has committed about $7 billion to India to counter competition from domestic players and the entry of global players such as Alibaba and Rakuten.

The company’s India sales rose six-fold to ₹1,022 crore in 2014-15. However, losses also moved up to ₹1,723 crore in FY15, from ₹321.3 crore in FY14, according to public documents available with the Registrar of Companies.

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