E-commerce

Amazon pumps up services for India market

September 8, 2020

Amazon Inc. is adding auto insurance and gold investment products to its list of services for India to expand its customer base and boost adoption of Amazon Prime, according to a report by Insurance Journal.

The company has 100 million registered users in India and is aiming to be a major player in India's fintech market, despite the large numbers of underbanked citizens in the country.

Amazon may be embracing lending and insurance as a way to boost profits in India, due to thin margins in the country, according to the report.