Prione Business Services Pvt. Ltd., the joint venture between Amazon and Catamaran that has been running business successfully for the past 7 years and their alliance was due for renewal on May 19, 2022. However, the two partners, in their communiqué, announced they have mutually decided to not continue their joint venture beyond the end of its current term. The partnership has enabled more than 300,000 sellers and entrepreneurs to go online and enabled 4 million merchants with digital payment capabilities, providing these SMBs and merchants access to millions of customers across the country.
M.D. Ranganath, President – Catamaran, said, “We are happy that Prione has leveraged global best practices for e-commerce in India, created jobs, and provided millions of Indian customers access to a wide selection of products from across the country by leveraging technology. As our JV with Amazon reaches the end of its tenure, I reflect on this successful partnership that introduced the power of digitization and empowered hundreds of thousands of SMBs across big and small towns. We would like to thank Amazon for the partnership that leaves behind a strong legacy of shaping e-commerce in India.”
Amit Agarwal, Global Senior VP and Country Head – Amazon India, said, “Amazon and Catamaran entered into a JV in the early days of e-commerce in India with a shared vision of transforming hundreds of thousands of small businesses in a fast-changing digital world, by providing online capabilities enabling them to access customers both in India and globally. We are humbled by how the JV exceeded its vision, helping online commerce evolve through the unrelenting efforts of hundreds of its employees, positively impacting over 4.3 million small businesses, creating hundreds of thousands of jobs, and contributing to India’s digital economy. We were privileged to have had a partner we could learn from and lean on. I would like to thank the Catamaran team for this long and fruitful partnership that helped set the direction for e-commerce in India.”