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Amazon to Invest $1 Billion to Digitise Small Businesses, Export $10 Billion Worth Indegenous Goods: Jeff Bezos
Speaking at the Amazon Smbhav event in New Delhi, Bezos announced that the leading e-commerce major would use its global footprint to export 'Made in India' goods worth $10 billion by the year 2025.
New Delhi: Making major investment announcements for small and medium businesses (SMBs) in India, Amazon CEO Jeff Bezos on Wednesday said that Amazon would invest $1 billion in digitising SMBs in the country making the 21st century, “the century of India”.
Speaking at the Amazon Smbhav event in New Delhi, Bezos announced that the leading e-commerce major would use its global footprint to export ‘Made in India’ goods worth $10 billion by the year 2025.
Bezos also remarked that in terms of US-India alliance, the 21st century would be most important about the bilateral relations between the two nations.
“I predict that 21st century is going to be the Indian century,” he said, “The dynamism, the energy… the growth. This country has something special and it’s a democracy.”
Notably, US-based giant Amazon has committed nearly $5.5 billion for investments in India, a country that can be seen as a key growth market.
“We’re committed to being a long-term partner of India. And actions speak louder than words,” Bezos furthered.
Under the initiative, as Bezos announced, Amazon also plans to establish ‘Digital Haats’ in 100 cities, villages, and communities to help businesses integrate into the digital economy.
These ‘Digital Haats’ would be held in local neighbourhoods and will be available to MSMEs, irrespective of their association with Amazon, the company said in a statement.
The billionaire CEO is in India on a two-day visit for an event by Amazon primarily focused on SMBs. The event that kicked-off in the capital city today and is expected to be attended by key leaders and policymakers, including Prime Minister Narendra Modi.
Bezos’ visit to India comes at a crucial time as the Competition Commission of India (CCI) has ordered an enquiry into the business practices of the e-commerce majors Amazon and Flipkart.