The News
Amazon chose Samir Kumar, a 25-year company veteran, to head its India operations as the e-commerce giant rapidly expands in the country. Amazon plans to invest $26 billion in India by 2030, but it is facing intense regulatory scrutiny: The country’s antitrust body last week accused the company of hurting competitors by preferring select sellers and significantly discounting products, Reuters reported.
Amazon’s India marketplace division is actually losing money after slashing prices, reporting nearly $580 million in net losses in 2023, prompting government criticism over its “predatory pricing.” But that is driving massive sales, reflecting Amazon’s strategy “to capture market share, even if it means taking a financial hit in the short term,” wrote Finshots, an Indian financial news site.