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September 26, 2020

AMAZON LAUNCHED AN ONLINE PHARMACY IN INDIA

Amazon just launched an online Pharmacy in India, marking its entry into the Indian Internet Medicine industry.

Amazon Pharmacy will officially launch in Bangalore and may well be followed in other cities across India. The announcement comes as an important boost was given to the online drugs business and during the coronavirus pandemic. US tech companies have invested hundreds of billions of dollars in the Indian market this year.

The Amazon Pharmacy service provides medication, over-the-counter, and traditional herbal products, and also universal healthcare devices. “This is highly pertinent nowadays because it will help clients meet their basic needs while staying safe at home,” a representative for Amazon said.

In 2017 Amazon began its move into pharmaceutical retailing. It bought US-based online delivery medications startup PillPack the following year. The company launched its Amazon Pharmacy brand identity to the service provided by PillPack only at the end of that year. In January, Amazon throughout the UK, Australia, and Canada filed a trademark for the name Amazon Pharmacy.

The move has been seen as a sign that perhaps the company was set to expand its prescription drugs business significantly outside the US.

Amazon’s chief executive, Jeff Bezos, pledged earlier this year to make big investments in India. Speaking at a corporate event in New Delhi in January, he said the twenty-first century is “the Indian century”

Amazon has set grand expansion programs in the world’s biggest democracy, where it has funded some $6.5 billion ( £ 5 billion). Like competitive US retailer Walmart, the fast-growing economy sees big growth potential.

Amazon entered the food delivery business in India last May, with a trial in four parts of Banglore. Google last month thus became the latest major American player to invest in the online economy of Indian conglomerate Reliance Industries.

Google has announced it will spend around $10bn in the next 5 to 7 years in India in July, joining a group of potential partners in Jio that includes Twitter, Intel, and Qualcomm.