Amazon to invest US$ 1 billion to help digitize micro, small, and medium enterprises and traders across India
News Desk, News Nation 360: Amazon announced it plans to invest the US $1 billion to digitally enable micro, small, and medium enterprises (MSMEs) and traders across India, including manufacturers, resellers, local offline shops, and brands. The company aims to digitize 10 million MSMEs with this investment, helping Indian businesses grow by selling online worldwide and enabling the US $10B in cumulative exports by 2025. As part of this effort, Amazon will establish 100 Digital Haats in cities and villages throughout India. Amazon Founder and CEO Jeff Bezos announced the plan in front of thousands of MSMEs at the inaugural Amazon SMBhav Summit in New Delhi. There are more than 550,000 sellers on the Amazon India marketplace and more than 60,000 Indian manufacturers and brands are exporting their Make in India products to customers worldwide on Amazon. With this announcement, Amazon will help Indian MSMEs grow their cumulative exports to US$10 billion by 2025 through the Amazon Global Selling program, which enables businesses to sell on Amazon marketplaces globally. In addition to the Digital Haats and expansion of Amazon Easy and “I Have Space” programs, Amazon will continue creating opportunities for MSMEs across India through Enabling digital businesses, Making it easy to sell globally, Growing income by partnering with Amazon, Maximizing business efficiency. The event is designed to provide MSMEs in India an opportunity to engage with Amazon on how to expand their growth nationally and internationally, share learnings, understand new opportunities for online businesses in India, and get insights into future trends. During the Summit, Bezos presented three Small Business Awards to local Indian businesses for Digital SMB of the year, Woman Entrepreneur of the Year, and Global SMB of the Year. In addition to Bezos, speakers included Narayana Murthy, Co-Founder – Infosys, Kishore Biyani, Founder & CEO – Future Group; and other industry leaders from across the spectrum of digital businesses. Bezos told they are committed to being a long-term partner of India. And actions speak louder than words. Over the next five years, Amazon will invest an incremental US$1 billion to digitize micro and small businesses in cities, towns, and villages across India, helping them reach more customers than ever before. This initiative will use Amazon’s global footprint to create US$10 billion in India exports by 2025. Their hope is that this investment will bring millions of more people into the future prosperity of India and at the same time expose the world to the Make in India products that represent India’s rich, diverse culture.
Report: Anustup Kundu