Amazon India’s wholesale business cart gets infusion of Rs 160 crore

After receiving Rs 115 crore in September, Amazon India's wholesale business has yet again received Rs 160 crore from the parent company.

The Amazon Business has brought pharmacies and small outlets, extending credit lines to these businesses through a partnership with banks and non-banking financial institutions.

An Amazon India spokesperson told ET, "We continue to invest in India as part of our long-term commitment but we do not comment on specific details of our investments."

The Amazon India wholesale business started in 2013 and includes fast-moving consumer goods (FMCG), food and beverages, office supplies, IT products, health and personal products and cleaning supplies.

It also serves as a marketing and distribution channel for Coolpad and Motorola.

The wholesale platform works with 10,000 sellers in Bengaluru and registered annual sales of $1billion in 2015.

Amazon CEO Jeff Bezos has said that the company will extend its commitment to India by an additional $3 billion.

According to a 2014 report by Walmart, the Indian B2B market has the potential to grow to $700 billion by 2020. The sector has seen an increasing push from Walmart India which has been sounding out online marketplaces for an investment opportunity as well as retail partnerships.