22 Sep 2017
Live Post
Hathway’s cable TV and broadband capex to be Rs 270 cr in FY18
Cut in interconnect charge may boost RIL's EPS by 8%
Package soon to boost economy; no cuts in fuel rates: Arun Jaitley
Global child bride racket busted in Hyderabad, 20 arrested
Tracked so far: Rs 75 crore in Dera bank accounts
Violence in Tripura: Journalist hacked to death, sec 144 imposed

After interaction with Modi, Bezos says Amazon will “keep investing” in India

MUMBAI: For television networks and over-the-top (OTT) operators, there is a word of caution: Amazon is going to invest more and more to grow in India.

Amazon, which launched Prime Video late last year, will “keep investing and growing in India,” its chief Jeff Bezos said. The online retail giant had earlier committed investments to the tune of $5 billion in India.

After his meeting with Prime Minister Narendra Modi, Bezos tweeted: “Terrific meeting with @narendramodi. Always impressed, energized by optimism and invention in India. Excited to keep investing and growing.”

Modi had a roundtable meeting with 20 US business leaders in Washington DC. The CEOs present at the roundtable included Bezos, Apple’s Tim Cook, Google’s Sunder Pichai, John Chambers from Cisco, Shantanu Narayen from Adobe and Ajay Banga from Mastercard.

Modi asked the CEOs of Amazon, Google, Microsoft, Apple, among others to invest in business-friendly India.

Amazon, which is locked in leadership battle with homegrown e-tailer Flipkart, has aggressive expansion plans in India.

“Our India team is moving fast and delivering for customers and sellers… It’s still Day 1 for e-commerce in India, and I assure you that we’ll keep investing in technology and infrastructure,” Bezos had earlier said.

Seeking to grow its subscribers in the fastest growing economy in the world, Amazon Prime Video, the OTT arm of Amazon, has heavily invested on local content in India. It has partnered top Indian and international studios like Yash Raj Films, Dharma Productions, T-Series, Excel, Warner, Paramount, CBS, Everest, SVF, Green Gold, TV Asahi, Ultra Media & Entertainment, Lionsgate and CBeebies to offer quality content. The list of local shows includes ‘Bodhidharma: Master of Shaolin’ (Ram Madhvani, Prasoon Joshi and Sunil Doshi), ‘Breathe’ (Abundantia Entertainment), ‘The Ministry’ (AIB and OML), ‘Powerplay’ starring Vivek Oberoi and Richa Chadda (Excel Media & Entertainment), ‘Mirzapur’ (Excel Media & Entertainment), ‘Stardust’ (Phantom Films), ‘The Family Man’ (D2R Films) and ‘Vishpuri’ (Big Synergy).