Amazon India reported over 105 percent growth in revenue in Fiscal Year 2017. Per filings with the Registrar of Companies, Amazon Seller Services posted a 41% increase in earnings to $485.4 million for the year ending March 31, 2017. Amazon Seller Services currently earns through commissions, advertisements and shipping fees. It also earns revenue from its Seattle-headquartered parent by way of advertising fees, royalty on sales of Kindle, and other transactions.
According to Inc42, industry experts said that the e-commerce giant’s impressive growth can be attributed, in part, to the November 2016 exercise when India removed two large value currency denominations from circulation. Speaking on Amazon’s phenomenal growth in India, an online seller on Amazon requesting anonymity said, “Last fiscal, the impact on Amazon was across categories — smartphones to electronics to apparel. These are the largest selling and fastest growing segments in e-commerce.”
Aiming to get ahead of rival e-commerce companies in India, Amazon India is doubling its efforts to diversify its business. It is getting ready to enter the online food retail and grocery market, and is additionally eyeing a piece of the Indian digital payments pie with Amazon Pay.
