India has added new customers at the fastest pace of Amazon in its history of operations in several countries, the head of the company's international consumer business, Diego Piacentini, told TOI.
India is also the country's largest company after the US, he said, adding that second investment in India was key to the future success of Amazon. Piacentini, reporting to founder Jeff Bezos and the best paid executive of the company, said he would be surprised that India was not the second largest country after the US Amazon in the next 10 years, given the pace at which it was growing.
India operations grew 500% in the number of units sold last year. "I am an optimistic person, but my optimism was not enough. If you told me 27 months ago that going to sit here and look back on a growth of 500% year on year, I would have said that is not possible" Piacentini said.
Amazon Indian operations was recently launched just over two years and has been gaining market share against rivals. Some estimate that is already second to Flipkart, and ahead of SnapDeal and Paytm. Last year, Bezos had announced that the company spent more than $ 2 billion in funds for investment in India.
"We have to look long term. The type of massive infrastructure and partnerships we are building in this country is huge.The United States and Europe after some time will have a different growth trajectory," said Piacentini.
India is also the country's largest company after the US, he said, adding that second investment in India was key to the future success of Amazon. Piacentini, reporting to founder Jeff Bezos and the best paid executive of the company, said he would be surprised that India was not the second largest country after the US Amazon in the next 10 years, given the pace at which it was growing.
India operations grew 500% in the number of units sold last year. "I am an optimistic person, but my optimism was not enough. If you told me 27 months ago that going to sit here and look back on a growth of 500% year on year, I would have said that is not possible" Piacentini said.
Amazon Indian operations was recently launched just over two years and has been gaining market share against rivals. Some estimate that is already second to Flipkart, and ahead of SnapDeal and Paytm. Last year, Bezos had announced that the company spent more than $ 2 billion in funds for investment in India.
"We have to look long term. The type of massive infrastructure and partnerships we are building in this country is huge.The United States and Europe after some time will have a different growth trajectory," said Piacentini.
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