AKIPRESS.COM - After exhausting its initial investment pledge of US$2 billion, Amazon.com Inc is set to invest a further $3 billion in its Indian operations, according to India Now Business and Economy.

Jeff Bezos, CEO of the online retailing giant, initially made the announcement at an event in the U.S., attended by the Prime Minister of India Narendra Modi.

The company is spending massively on discounts, advertising, and logistics in a bid to become India’s largest e-commerce company.

India’s e-commerce market is expected to hit $60 billion in value by 2020, according to a UBS AG report.