27 April 2016 Current Affairs: In a sign of the success Amazon has had in India, its country managing director Amit Agarwal has been inducted into founder & CEO Jeff Bezos's S-team, a set of senior (the S stands for senior) leaders who have a direct line to Bezos and play a crucial role in important decisions that the $107-billion e-commerce behemoth makes. Under Agarwal's leadership, Amazon has captured a significant market share of India's e-commerce market in less than three years of commencing operations.
The claim was backed with data from ComScore that showed Amazon had seen 30 million unique visitors in October, ahead of rivals Flipkart (around 27 million), Jabong (around 21 million), and Snapdeal (around 18 million). The US online retail giant has also made significant strides on the mobile app, though it remains well behind Flipkart-Myntra on that platform. Agarwal has been instrumental in introducing local innovations like Amazon Now (formerly called Kirana Now) that brings local small stores online through its platform.
India is Amazon's second biggest investment market, after the US, and the company has said it expects India to overtake Japan, Germany and the UK to become its largest overseas market in the next few years. In 2014, Bezos had pledged a $2 billion investment in India.