Prime Minister Narendra Modi presents the USIBC Global Leadership Award to Amazon founder and CEO Jeff Bezos as USIBC chairman and Cisco executive chairman John Chambers (second from left) look on in Washington DC on Tuesday. (Photo: PTI) 09AMAZON.jpg China wholesale electric instant heating water faucet Prime Minister Narendra Modi presents the USIBC Global Leadership Award to Amazon founder and CEO Jeff Bezos as USIBC chairman and Cisco executive chairman John Chambers (second from left) look on in Washington DC on Tuesday. (Photo: PTI)US e-commerce giant Amazon will invest $3 billion more in India to tap the growth of online shopping in the fast growing economy, the company’s founder and CEO Jeff Bezos said on Wednesday.“Amazon will invest $3 billion more in India. This is in addition to the $2 billion announced in 2014,” Mr Bezos said at the annual gala of US India Busin-ess Council (USIBC) whi-ch was attended by Prime Minister Narendra Modi.“We have already created some 45,000 jobs in India and continue to see huge potential in the Indian economy,” Mr Bezos said.Amazon, which entered the Indian market in 2013, faces stiff competition fr-om domestic rivals Snap-deal and Flipkart. “Our Amazon.in team is surpa-ssing even our most ambitious planned milesto-nes,” Mr Bezos said after receiving USIBC’s Global Leadership Awards.Amazon’s pledge of fre-sh investment comes amid reduced risk appetite of private equity investors, who were key to the growth of Flipkart.The Indian etail company had also witnessed a significant mark down of its valuation, which could make raising fresh capital at high valuations rather difficult.Amid funding woes, Flipkart has been conserving cash to channel it to improve its logistics. As part of this, it had deferred appointment of IIM graduates and applied return policy only to a select products.Explaining Mr Bezo’s announcement, Amazon India managing director Amit Agarwal said the company plans to channel the funds on enhancing customer and seller experience.“If you look back at the last few years of Amazon in India, we have focused on offering wide selection of goods at low prices, and fast and reliable delivery. We will replicate what Amazon has been doing in the US over the past 20 years. We will focus on enhancing our customer and seller experience," Amit Agarwal, Amazon India managing director, said.