First Time Since 2014, Amazon Omits India Business From Earnings Call
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E-commerce giant Amazon omitted India updates for the first time since 2014 from its quarterly earnings call on Thursday. According to a report by TechCrunch, this has prompted many analysts to wonder if the company is looking to scale back its operation in India.
The change is particularly notable given the high rate of growth of the e-commerce industry in South Asia. In India, Amazon has invested over $7 billion in the last ten years. It faces tough competition from Walmart-backed Flipkart. Flipkart, on the other hand, has spent $2.5 billion in India in the last year alone, the report added.
Earlier in January, Amazon laid off around 1,000 employees in India as part of its biggest retrenchment exercise across the globe. The company announced the elimination of over 18,000 roles across the globe due to uncertain economic conditions.
Before the layoffs, Amazon had 100,000 employees in India.
However, there are also signs that Amazon is trying to capture more of the Indian market.
In April, Amazon Prime Video announced the expansion of its English-language entertainment offerings in India in partnership with Paramount Global. The new content, it said, will be available to Indian viewers as part of their general subscription without any extra cost.
The partnership includes shows across different genres, including Mayor of Kingstown, The Stand, Star Trek: Discovery, and the Yellowstone prequel series 1883. The deal also included shows like Californication, Dexter, The Good Wife, NCIS, Blue Bloods, The Good Fight, Madam Secretary, Reign, The Great, Seal Team, Under the Dome, Munich Games, and Parot.
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