Amazon.com’s India unit on Thursday said it will open 10 new warehouses in the country and begin offering auto insurance, in moves that will help the e-commerce giant widen its reach in a key growth market.
The new warehouses will be set up in 10 Indian cities including Delhi, Mumbai and Bengaluru, it added.
India is one of the fastest-growing markets for the US-based Amazon but one where it has also had to face regulatory hurdles, and a backlash from traders over accusations of offering discounts.
On Thursday, Amazon also said that its local payments arm, Amazon Pay, has partnered with private firm Acko General Insurance to offer car and motor-bike insurance. That makes India Amazon’s first market where it offers such a financial service.
The insurance is currently available on Amazon’s app and mobile website.
Customers of Amazon’s Prime loyalty programme – which promises free movies and music streaming as well as faster deliveries for an annual Rs. 999 – will get extra benefits and more discounts, Amazon said.
Amazon’s service will compete with local rivals including SoftBank-backed digital payments firm PayTM and insurance aggregator Policybazaar.
© Thomson Reuters 2020
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