Source: Benzinga Feeds
Seattle-based e-commerce giant Amazon.com Inc. (NASDAQ: AMZN ) will invest $1 billion in digitizing small- and medium-sized businesses in India, CEO Jeff Bezos announced Wednesday. Bezos Visits India As Country Investigates Amazon, Flipkart Bezos, who is on a three-day visit to India, made the announcement at Amazon India’s Smbhav Summit in New Delhi, local daily The Hindu reported . Smbhav, a play of words with “SMB” and Hindi for “possible,” is a two-day-long summit organized by the e-commerce giant in India’s capital to address the concerns of small- and medium-sized business owners who are protesting the company’s alleged anti-competitive practices. In an order on Monday, the Competitive Commission of India said it has ordered a probe into the allegations against Amazon and homegrown rival Flipkart, a subsidiary of Walmart … Full story available on Benzinga.com
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