Amazon omitted India updates from Thursday’s earnings call and release, a notable turnaround for the e-commerce giant that has consistently highlighted rapid growth in the South Asian market.
India’s absence from quarterly earnings, its first since early 2014, continues Amazon’s shutdown of multiple servicesincluding food delivery and wholesale distribution, in the country, leading many analysts to question whether the US giant is winding down operations in the country amid global restructuring.
Amazon has invested more than $7 billion in its India operations over the past decade and competes aggressively with Walmart-backed Flipkart. amazon is lagging flipkart and struggling to make inroads into smaller cities and towns in India, according to a report by Sanford C. Bernstein.
Its global rival Walmart, by contrast, is doubling down in India and has spent close to $2.5 billion in the country this year alone.
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