Amazon India is currently worth $16 billion and has the same 30% marketshare as local competitor Flipkart, according to a new report from Citi Research. That's in a country which has a $2.6 trillion GDP growing at 6-7% annually. Flipkart, of course, just accepted a $16 billion investment from Walmart for a 77% share of the company. "After disappointing results in China, Amazon – led by its founder/CEO Jeff Bezos – has been determined to win in India," say report authors Mark May and Hao Yan. "India is poised to be one of the largest and fastest e-commerce growth markets for the next decade."
For its latest trick in India, Amazon aims to help startups in the country sell, market, and deliver their products and gain more visibility. Amazon announced Monday it is bringing its global startup program Launchpad to India. The India Launchpad portal is live with products from over 400 startups, of whom 25 are India-based. The company has also partnered with Nasscom, Government of Maharashtra, Indian Angels network and several bodies and venture capitalists to help startups on policy and financial sides. Through Launchpad, first unveiled in 2015 and now available in seven regions, Amazon partners with startups and sells their products on its giant ecommerce platform.
India has lately received a slew of distinct internet services that you can't find elsewhere, and Amazon is eager to pitch in. It just launched a Sell as Individual test service in India (specifically, Bangalore) that promises to take the headaches out of selling your old goods. Amazon will not only list your offerings, but pick them up, pack them and deliver them elsewhere in your city -- no awkward meet-ups or makeshift packaging here. How much it costs depends on what you're selling. Amazon asks as little as 10 rupees (just under 15 cents) for every item you sell below 1,000 rupees ($15).
As Amazon fights against Flipkart for the top e-commerce spot in India, it is looking at old and refurbished phones for further expansion in the country. SEE ALSO: India rejects Apple's plans to sell refurbished iPhones, but might agree to Apple Stores Amazon India has launched a store on its website to offer Indian customers more affordable phones. These phones have been professionally "restored for working order" or were sold to Amazon partners by customers. These smartphones cost up to 25 percent less than their new counterparts. The market for refurbished phones is considerably big in India with millions of people resorting to big brands for less price every year.