Amazon, Narayana Murthy's firm to help small businesses get online

Tags: News
Amazon.com's Asia unit will provide back-end support in a venture with an Indian private investment firm formed by Infosys Ltd co-founder N.R. Narayana Murthy that aims to help get Indian companies online.

Catamaran Ventures's partnership with Amazon Asia will target small and medium-sized firms, Arjun Ramegowda Narayanswamy, who heads the private investment company, said in an email to Reuters on Friday.

An official from Amazon's India unit, who did not want to be identified as the details of the deal is not public, told Reuters that Amazon will support the venture with logistics and technology know-how. He declined to give details.

"Catamaran is partnering with Amazon Asia to offer services that help offline sellers and SMBs in India to get online and to take advantage of the fast-growing online customer base in the country," Narayanswamy said, without giving more details.

The Economic Times newspaper first reported the partnership on Thursday.

Catamaran will hold a 51 percent stake in a holding company, with Amazon owning the rest as required under India's foreign direct investment rules, the newspaper reported, citing sources.

A unit of the holding company, which is likely to be wholly owned by Catamaran to comply with local regulations, will roll out the business, retail consultants said.

An Amazon India spokeswoman declined to comment, while Amazon Asia did not immediately respond to a Reuters query.

EDITORIAL OF THE DAY

  • After the stirring poll triumphs, Modi needs to return to the drawing board

    Having bagged the biggest and most populous state, Uttar Pradesh, prime minister Narendra Modi, will now have to get back to the drawing board to rust

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Sandeep Bamzai

Cut & Thrust: A DANGEROUS NEW GREAT GAME

Push the enemy into an unreal world, one where he ...

Ananda Majumdar

Pitfalls of handing a walkover

Congress workers in Lucknow are said to be behind posters, ...

Zehra Naqvi

Creativity springs from being open to experimentation

When Albert Einstein published his first revolutionary paper on the ...