Amazon India’s Web Services extends Rs 390 crore loan to IT services arm

Amazon Internet Services, Amazon’s subsidiary that undertakes the resale and marketing of Amazon Web Services’ (AWS) cloud services has extended a loan of Rs 390 crore to Amazon IT Services. The latest infusion is the third subsequent credit extension by Amazon Internet Services since 2017. The company had given Rs 820 crore and Rs 370 crore in loan in 2017 and 2018 respectively, business signals platform Paper.vc said citing regulatory documents.

“The (unsecured) loans have been extended under a revolving credit agreement between the two companies. It is unclear what role AISIPTL (Amazon Internet Services) performs in India although its pertinent to mention that Amazon’s public policy head for India sits on the board of AISIPTL,” Vivek Durai, Founder, Paper.vc said. Avinash Ramachandra is currently the director for public policy in India.