Amazon has been investing a lot in India
Technology giant Amazon (AMZN) has been increasing its presence in India (EPI), one of the fastest-growing major economies. According to a report by Morgan Stanley, the Indian e-commerce market is projected to rise to $200 billion by 2026, from a meager $15 billion in 2016.
Last year, Amazon launched Amazon Prime in India, with membership costing 499 rupees (~$7.50), although the company might raise it soon. Amazon has been investing in its India business, including a $260 million investment in July. The company faces competition from local companies, including Flipkart and Paytm, which is backed by Alibaba (BABA).
Amazon to start shipping Echo to India
Amazon announced on Tuesday, October 31, 2017, that it will be shipping its Echo, Echo Dot, and Echo Plus speakers to India, first to customers who ordered them through an invite-only program.
In India, the Echo, Echo Plus, and Echo Dot will cost 9,999 rupees (~$155), 14,999 rupees (~$230), and 4,499 rupees (~$70), respectively. Virtual assistant Alexa will come as an upgrade in order to suit Indian customers. Alexa will have an Indian accent and will be able to speak English and Hindi.
As the above graph shows, Amazon Echo’s popularity is growing, at least in the United States. The smart speaker saw stellar sales during last year’s holiday season.